MENU

Why these 4 ASX shares have sunk lower today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it a third day in a row of declines on Tuesday.  In afternoon trade the benchmark index is down 0.3% to 6,191.5 points.

Four shares that have fallen more than most today are listed below. Here’s they sunk lower:

The Bubs Australia Ltd (ASX: BUB) share price has dropped 5% to 77 cents. The goats milk infant formula company recently raised $40 million at $0.75 per share from professional and sophisticated investors. These funds will be used to provide working capital and funding to support its China growth momentum following QianJiaWanPu, New Times Asia and Alibaba agreements.

The Clean TeQ Holdings Limited (ASX: CLQ) share price has fallen a further 10.5% to 84 cents a day after the release of its definitive feasibility study at its Sunrise operation. Despite that study revealing 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%, investors appear to have been expecting more from the cobalt, nickel and scandium resource.

The Hub24 Ltd (ASX: HUB) share price is down over 4% to $12.64 after the fintech star released a trading update last night. Although management expects its platform segment to deliver underlying EBITDA growth of 131% to $11.8 million in FY 2018, some investors appear to have been expecting even stronger growth. I thought the update was a strong one and makes it well worth taking a closer look once the dust settles.

The WiseTech Global Ltd (ASX: WTC) share price has dropped over 3.5% to $16.52. This decline appears to be connected to U.S. tech shares plunging lower overnight as U.S. and European markets were sold off. Considering the sky high multiples that WiseTech’s shares trade on, it was always likely to be dragged lower if tech shares came under pressure. The Australian tech sector is down 1.2% on Tuesday.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!