Why these 4 ASX shares have fallen lower today

The Orocobre Limited (ASX:ORE) share price is one of four falling lower today. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to bounce back from early declines and push higher in afternoon trade. At the time of writing the benchmark index is up almost 0.2% to 5,943 points.

Four shares which haven't been able to follow the market higher today are listed below. Here's why they fallen lower:

The Auscann Group Holdings Ltd (ASX: AC8) share price has fallen 4.5% to 76 cents despite there being no news out of the pot stock. But as I mentioned earlier today, AusCann's shares have been on a tear in the last 30 days. Today's decline may be a case of profit taking from day traders.

The Fairfax Media Limited (ASX: FXJ) share price is down almost 31% to 73.7 cents. Today's decline is due to the company spinning off its Domain business and nothing untoward. Domain's shares landed on the ASX this morning under the ticker code DHG and are fetching $3.87 apiece at the time of writing.

The Lepidico Ltd (ASX: LPD) share price is down 19% to 5.5 cents. The lithium-focused company has been causing quite a stir in recent weeks, rallying significantly higher. I feel this is likely to have led to a spot of profit taking today.

The Orocobre Limited (ASX: ORE) share price has tumbled 4% to $5.81. The lithium miner's shares have sunk lower despite the release of a positive research note out of Deutsche Bank. According to the note, following a site visit, the broker continues to rate Orocobre as a buy and has a $5.70 price target on its shares.

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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »