The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a solid day so far and in afternoon trade finds itself higher by 0.4% to 5,747 points.
Unfortunately not all shares have managed to climb higher today. Here's why these four shares have sunk lower:
The Aconex Ltd (ASX: ACX) share price has tumbled 7.5% to $4.25 despite the software-as-a-service company posted a full-year net loss of approximately $10 million. Despite this I thought Aconex delivered a solid result and has once again demonstrated that it has a bright future ahead of it. A particular highlight was its international revenue growth of 45%.
The Avz Minerals Ltd (ASX: AVZ) share price has plunged 22% to 12.5 cents after the exploration company revealed the results of five of seven drill holes. Although the results were as strong as expected, traders appear to have decided to take profit after its shares rallied over 300% in a short space of time.
The Corporate Travel Management Ltd (ASX: CTD) share price has fallen 7% to $21.42 following the release of its full-year results. In FY 2017 the travel company reported profit and revenue growth of 29.7% and 24.3%, respectively, over the prior year. Looking ahead, in FY 2018 management expects EBITDA growth of between 22% and 27.5%. I think today's decline is a great opportunity to pick up shares in a quality company at a good price.
The Virtus Health Ltd (ASX: VRT) share price has tumbled 4% to $5.42 after the fertility treatment company posted a disappointing 15% decline in full-year net profit after tax to $28 million. According to the release, reported total cycles fell 3.7% on a like-for-like basis due to a decline in overall market activity.
