In afternoon trade the S&P/ASX 200 (Index: ^AXJO) is up a solid 0.7% to 5,727 points thanks to strong gains from the big four banks.
Unfortunately not all shares have been able to climb higher today. Here's why these four shares have sunk lower:
The Catapult Group International Ltd (ASX: CAT) share price has fallen 5% to $2.00 despite there being no news out of the sports analytics company. As a significant portion of its cash receipts are generated in the United States, investors may be concerned about the impact that recent unfavourable currency movements may have on its profits.
The Nextdc Ltd (ASX: NXT) share price has fallen almost 4% to $4.30 after revealing that it has acquired a 14% stake in Asia Pacific Data Centre Group (ASX: AJD). The investment appears to have been made in order to prevent major shareholder 360 Capital from making changes in the boardroom. NextDC is a long-term tenant of AJD and may be concerned that a change could result in unfavourable leasing terms when it comes to renewal.
The St Barbara Ltd (ASX: SBM) share price has fallen 8% to $2.46. Although the vast majority of Australia's leading gold miners have sunk lower today, St Barbara has fallen significantly more than most. This latest drop means its shares have now fallen 12% in the last five trading sessions, compared to a 3.5% decline by the gold miners' index.
The Wellard Ltd (ASX: WLD) share price has continued to sink lower, this time by 17% to 12 cents. Investors have been heading to the exits in their droves following yesterday's full-year update. According to yesterday's release, Wellard expect to report a full-year loss before tax of between $55 million and $65 million, excluding impairments on vessels. With a result of that nature it isn't hard to see why its shares are down 35% this week.
