MENU

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

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has been fading but is still on course to finish the day with a gain. At the time of writing the benchmark index is up 0.1% to 6,126 points.

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

The Afterpay Touch Group Ltd (ASX: APT) share price has fallen 4% to $6.73. Investors may be taking profit after the fintech company’s shares rallied notably higher this week as it prepares to launch its Afterpay service in the U.S. market. Despite today’s decline, Afterpay Touch’s shares are still up 8.5% since this time last week.

The Amaysim Australia Ltd (ASX: AYS) share price has tumbled 6% to 99.5 cents despite there being no news out of the growing telco company. I suspect that the market is concerned that the newly announced mobile plans by TPG Telecom Ltd (ASX: TPM) are a threat to the Amaysim business. Having seen how aggressively priced they are, I think the market is right on this one.

The AMP Limited (ASX: AMP) share price has fallen a further 5% to $3.75 as investors continue to head to the exits in their droves. It appears as though management didn’t do enough yesterday at its annual general meeting to convince some shareholders to stick around.

The Link Administration Holdings Ltd (ASX: LNK) share price has continued its slide and is down a further 3% to $7.01. On Thursday Link warned shareholders that the Federal Budget’s proposed changes to the treatment of inactive superannuation accounts was likely to impact its future revenues. While the full impact will not be known for some time, some shareholders don’t appear willing to stick around and find out.

I don't blame them. I would avoid Link for the time being and look at this growing dividend share instead.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool's dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended TPG Telecom Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.