The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing day and in afternoon trade finds itself lower by over 0.7% to 5,686 points.
Four shares which have fallen more than most today are listed below. Here's why they have tumbled:
The 8I Holdings Ltd (ASX: 8IH) share price has continued its poor run and fallen a further 13% to 33 cents. This means that the Singapore-based investment company's shares have now lost 54% of their value since the start of the year. Weak full-year guidance which revealed an expected 26% to 35% decline in profits is largely behind this year's decline.
The Kidman Resources Ltd (ASX: KDR) share price has fallen 10.5% to 63.5 cents after the lithium miner announced a joint venture with Sociedad Química y Minera de Chile. Investors don't appear too happy with the decision to give away 50% of its world class Mt. Cattlin asset to the Chilean miner for a cash consideration of US$110 million.
The Kogan.com Ltd (ASX: KGN) share price is down 3% to $1.90 despite there being no news out of the e-commerce company. But with its shares reaching an all-time high yesterday, I believe today's decline is likely to be a case of profit-taking.
The Mayne Pharma Group Ltd (ASX: MYX) share price has fallen 3% to a 52-week low of 96 cents today. Unfortunately this latest decline means the pharmaceutical company's shares have now lost 50% of their value since this time last year. Price-fixing allegations and President Trump's views on the drug pricing are largely behind the decline.
