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Why these 4 ASX shares sank lower today

ASX Share Down

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down 1% to 5,649 points after tensions in North Korea rose.

Four shares which have fallen more than most today are listed below. Here’s what sent them lower:

The Asaleo Care Ltd (ASX: AHY) share price is down 3% to $1.52 today. Although the personal care company delivered a reasonably mixed full-year result last week, today’s decline is largely attributable to its shares going ex-dividend today. Asaleo Care’s final partially franked 4 cents per share dividend will be paid to shareholders on September 21.

The Bubs Australia Ltd (ASX: BUB) share price has fallen almost 10% to 61.5 cents following the release of its full-year result after the market closed yesterday. In FY 2017 Bubs posted a statutory loss before tax of $5 million. Whilst the infant formula and baby food company has had a strong start to FY 2018, its unaudited revenue growth of 110% year-to-date appears to have disappointed the market.

The Nanosonics Ltd. (ASX: NAN) share price is down 5% to $2.44. I feel today’s decline is likely to be a spot of profit taking after its shares surged significantly higher over the last two trading days. This could arguably be a great opportunity to snap up the shares of the infection control specialist.

The Mesoblast limited (ASX: MSB) share price has fallen almost 12% to $1.42. Today’s decline comes after the cell-based medicine developer’s shares returned to trade following the announcement of a fully underwritten $50.7 million entitlement offer at $1.40 per share. Management believes the newly invested capital will provide Mesoblast with the balance sheet flexibility required to achieve its near-term corporate objectives.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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