In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down over 0.1% to 5,977 points due largely to declines in the financial and information technology sectors.
Four shares which have fallen more than most today are listed below. Here's why they have dropped lower:
The Altium Limited (ASX: ALU) share price has fallen almost 3.5% to $12.56 despite there being no news out of the software-as-a-service company. I suspect today's decline is a case of profit-taking following its strong gain this year.
The AWE Limited (ASX: AWE) share price has crashed 11.5% lower to 62 cents after China Energy Reserve and Chemical Group Australia withdrew their 71 cents per share takeover offer. No reason has been given for the withdrawal.
The Orocobre Ltd (ASX: ORE) share price is down almost 4% to $5.95 following a broad sell-off of the lithium miners. It appears as though traders have decided to take a bit of profit off the table after the strong gains in the industry over the last few weeks.
The REA Group Limited (ASX: REA) share price is down 2% to $76.85 after a broker downgrade. According to a note out of the Macquarie equities desk, its analysts have downgraded REA Group to an underperform rating on valuation grounds.
