Why these 4 ASX shares started the week in the red

After a weak start the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has found strength as the day goes on and is up 0.35% to 5,809 points in afternoon trade.

Four shares that have failed to follow the market higher today are listed below. Here’s why they have started the week in the red:

The Airxpanders Inc (ASX: AXP) share price has plunged 50% to 20 cents after the medical device company announced the surprise resignation of its president and chief executive officer Scott Dodson with immediate effect. No reason has been given for the departure, which appears to have left shareholders concerned that all is not well at the company.

The Avz Minerals Ltd (ASX: AVZ) share price has continued its slump and is down a further 2% to $2.22. The lithium-focused mineral exploration company’s shares have come under significant selling pressure since it admitted that a paid adviser leaked potentially sensitive images from its Manono project on social media. I would stay clear of AVZ Minerals whilst the two parties continue to work together.

The Mineral Resources Limited (ASX: MIN) share price has fallen 4% to $16.54 after the company announced that it has entered into a binding scheme implementation deed with Atlas Iron Limited (ASX: AGO) in relation to a combination of the two companies. It appears Mineral Resources shareholders don’t see as much value in the deal as Atlas shareholders. According to the release, Atlas shareholders will receive 1 new Mineral Resources share for every 571 Atlas shares they own on the record date.

The Tawana Resources N.L. (ASX: TAW) share price has tumbled almost 8% to 42 cents after announcing that it has received commitments to raise $20 million via the issue of 48,780,488 new fully paid ordinary shares at 41 cents per share. The funds will primarily be used for additional working capital, to enable continued commissioning of the Bald Hill Lithium and Tantalum Mine in Western Australia, and capital expenditure including feasibility studies on expansion projects.

3 Growth Shares To Buy In April

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 Scott Phillips.

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.