The Motley Fool

Why these 4 ASX shares have dropped lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday’s decline and is up over 0.4% to 6,210.8 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they have dropped lower:

The Amaysim Australia Ltd (ASX: AYS) share price has fallen almost 5% to $1.03 despite there being no news out of the junior telco. This decline comes despite a reasonably positive broker note release earlier this week. That note revealed that Goldman Sachs has retained its buy rating but reduced the price target on Amaysim’s shares to $1.30.

The Auscann Group Holdings Ltd (ASX: AC8) share price has tumbled over 5% to $1.21 after announcing the completion of a $33.4 million placement to institutional and sophisticated investors from North America and Australia at a price of $1.10 per share. AusCann will use the proceeds to fund cannabinoid pharmaceutical R&D and clinical studies, expand its operations in Chile and Australia, medical outreach programs in new international markets, and working capital

The Bellamy’s Australia Ltd (ASX: BAL) share price has continued its decline and is down a further 7% to $13.15. The infant formula company’s shares have come under pressure this week following a broker note out of Goldman Sachs. Although the broker retained its buy rating on Bellamy’s, it slashed its price target due to concerns that the CFDA approval process could be delayed for a number of months. When the dust settles I think this could be a buying opportunity.

The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price has plunged almost 9% to $49.09 after the pizza chain operator was downgraded by no less than two brokers this morning. Both Citi and Credit Suisse have downgraded Domino’s to the equivalent of sell ratings. Strong share price gains in recent weeks and concerns over its Japan operations appear to be partly behind both moves.

Top 3 ASX Blue Chips To Buy In 2018

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 recommended Domino's Pizza Enterprises Limited. 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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more