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Why these 4 ASX shares have started the week in the red

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has stormed higher by 1% to 5,740 points.

Unfortunately not all shares have been able to follow the market higher today. Four shares which have started the week in the red are listed below:

The Bubs Australia Ltd (ASX: BUB) share price is down 2% to 47.5 cents. The fledgling infant formula company’s shares continue to bounce around at the will of day traders. While I think Bubs could have a bright future ahead of it, I would suggest investors look at buying in at a cheaper price.

The Liquefied Natural Gas Ltd (ASX: LNG) share price has sunk lower again, this time by 2.5% to 38.5 cents. This extends the company’s year-to-date decline to in excess of 42%. The oversupply of natural gas continues to negatively impact the company and weigh heavily on its shares.

The Shine Corporate Ltd (ASX: SHJ) share price has continued its decline with a 5% drop to 57 cents. The embattled law firm’s shares have fallen 21% in the last five trading sessions after it was served with a class action.

The Yancoal Australia Ltd (ASX: YAL) share price has tumbled 4.5% to 10.5 cents. Investors continue to respond negatively to the coal miner’s decision to exercise its option to purchase Mitsubishi Development’s 28.9% interest in the Warkworth joint venture for US$230 million.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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