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.
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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.
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