The Motley Fool

Why these 4 ASX shares have started the week in the red

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a bitterly disappointing start to the week. At the time of writing the benchmark index is down 0.8% to 6,159.2 points.

Four shares that have fallen more than most today are listed below. Here’s why they have started the week in the red:

The Helloworld Travel Ltd (ASX: HLO) share price has fallen 2% to $5.91 after the travel company revealed the sell down of shares by executive directors and Qantas Airways Limited (ASX: QAN). CEO Andrew Burnes and Cinzia Burnes have each sold 2,500,000 shares at $5.50 per share and Qantas Airways has sold 2,000,000 shares at the same price. The sell down was undertaken after the company received many enquiries from domestic and international investors seeking liquidity opportunities. Mr Burnes hopes the improved liquidity will help the company gain inclusion on the ASX300 list in future.

The Nufarm Limited (ASX: NUF) share price has plunged 9.5% to $6.07 after announcing the completion of the institutional component of its fully underwritten 3 for 19 pro rata accelerated renounceable entitlement offer. The institutional component successfully raised approximately A$238 million.

The Silver Chef Limited (ASX: SIV) share price has dropped 5.5% to $1.96 following the release of the equipment financier’s full year results. According to the release, Silver Chef reported a statutory net loss after tax of $48.8 million in FY 2018. The company also revealed that its lenders have granted it another waiver for breaching its financial covenants. The waiver has been extended until March 31, conditional on a successful minimum capital raising of $45 million.

The TPG Telecom Ltd (ASX: TPM) share price is down 3% to $8.29 despite there being no news out of the telco company. But with its shares rocketing higher over the last couple of months, I wouldn’t be surprised if profit taking is weighing on them today. Especially given how some brokers have declared its shares as vastly overvalued.

Top Australian Stock Picker Just Issued Rare “Double Down” Buy Alert

Discover why this legendary Australian stock-picker just issued a “Double Down” buy alert to his exclusive group of insiders… and why he’s convinced this might be the single most attractive entry point for years to come.

Simply click here to get started and access our secure sign-up page.

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 Helloworld 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