Why these 4 ASX shares are ending the week in the red

The Avz Minerals Ltd (ASX:AVZ) share price is one of four ending the week in the red. Here's what you need to know…

| 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 rebounded from early declines and has edged ever so slightly higher to 5,791 points in afternoon trade.

Four shares that have acted as a drag on the market today are listed below. Here's why they are on course to end the week in the red:

The Avz Minerals Ltd (ASX: AVZ) share price has plunged almost 12% to 22.5 cents after the mineral exploration company released its drill results and a further response to an ASX price query. Second time around the company acknowledged that unauthorised images relating to these drill results were circulated on social media by one of its strategic advisors. I would stay away from AVZ Minerals while the two parties continue working together.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has fallen 3% to $5.46. At one stage the embattled investment company's shares were down as much as 21% to $4.45 before recovering strongly. The investment company announced today that its management team has been buying shares on-market during this recent share price weakness.

The Lovisa Holdings Ltd (ASX: LOV) share price is down almost 3% to $9.39. The fast-fashion jewellery retailer has come under pressure this week after the shock resignation of its CEO. The company did, however, also provide a trading update in the same release which revealed that its strong sales growth had continued in the third quarter of FY 2018.

The Navitas Limited (ASX: NVT) share price has fallen for a second day in a row by 2.5% to $4.63. On Thursday the education provider released an update on its University Partnerships division. According to that release, Navitas experienced a 3% increase in student enrolments during the first semester of 2018 in its University Partnerships division. This was slower than its FY 2018 average growth to date, which currently stands at 6%. This led to Macquarie retaining its neutral rating but cutting its price target to $4.60.

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 Scott Phillips.

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 »