In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gain and has sunk into the red. At the time of writing the benchmark index is down over 0.2% to 6,210 points.
Four shares that have fallen more than most today are listed below. Here's why they are starting the week in the red:
The Bellamy's Australia Ltd (ASX: BAL) share price has sunk a further 3% to $16.25 despite there being no news out of the organic infant formula company. Bellamy's shares have been one of the most volatile on the market of late. But if you can overlook this and think long-term then I feel you could do very well from an investment.
The Clean TeQ Holdings Limited (ASX: CLQ) share price has plunged 11% to 94.5 cents after providing a definitive feasibility study for its Sunrise operation. Although the study reveals that the operation has a post-tax net present value of approximately US$1.4 billion and an internal rate of return of 19.1%, it appears that some investors were expecting more from the cobalt, nickel and scandium resource.
The Commonwealth Bank of Australia (ASX: CBA) share price has dropped almost 2.5% to $72.12 after the banking giant announced radical restructure plans. According to the release, the bank intends to demerge and float its asset management business as it moves away from operations outside its key home loan, retail, and business banking segments.
The Hansen Technologies Limited (ASX: HSN) share price has continued its slide and is down a further 2.5% to $3.09 after Ord Minnett slashed its price target to $3.43 from $4.54. The broker rates Hansen as a hold. Last week the billing solutions company surprised the market with a sizeable profit guidance downgrade and a weak outlook for FY 2019. While there are question marks over its ability to grow organically, when the dust settles I think it could be worth a closer look.
