MENU

Why these 4 ASX shares tumbled lower today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a third consecutive day in the red and is down 0.3% to 5,951 points in afternoon trade.

Four shares which have fallen more than most today are listed below. Here’s why they have tumbled lower:

The Australian Agricultural Company Ltd (ASX: AAC) share price is down 10% to $1.40 after the cattle farmer reported a statutory half-year EBITDA loss of $36.5 million following a write down in the value of some of its cattle inventory. The company also saw its operating EBITDA margin fall to a disappointing 8.2% due to higher input costs.

The Bubs Australia Ltd (ASX: BUB) share price is down 8% to 79 cents. The baby food and goat’s milk infant formula company’s shares have now lost 22% of their value since this time last week. The catalyst for this was the sale of 6.8 million shares by one of its major shareholders.

The Healthscope Ltd (ASX: HSO) share price is down almost 3.5% to $1.81. Today’s decline is likely to be attributable to a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the healthcare services company to a hold rating and cut its price target to $1.95 following the release of weak private hospital cover data.

The Pilbara Minerals Ltd (ASX: PLS) share price has plunged 6.5% to 94 cents despite there being no news out of the lithium miner. But with its shares more than doubling in value in the last three months, I suspect today’s decline could be related to profit-taking from traders.

If you need a lift after today's declines then here are three top growth shares to watch in 2018.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.