MENU

Why these 4 ASX shares have tumbled lower today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has stormed higher thanks largely to gains in the banking sector. At the time of writing the index is up 1.1% to 5,936.2 points.

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

The Berkeley Energia Ltd (ASX: BKY) share price fell 30% to 33.5 cents before being placed in a trading halt. The trading halt was requested so that the uranium company could prepare a response to recent media articles relating to its Salamanca mine. According to CNBC, the Spanish government has decided not to deliver the permits necessary to open the European Union’s only open-cast uranium mine.

The Jatenergy Ltd (ASX: JAT) share price is down over 10% to 6.2 cents. On Tuesday the infant formula company’s shares doubled in value after the release of its quarterly update. According to the release, the company saw its cash receipts from sales increase from $320,000 in the June quarter to $10.7 million in the September quarter. However, product manufacturing and operating costs rocketed to $15.4 million during the quarter, leading to a net operating outflow of $5.5 million.

The Reject Shop Ltd (ASX: TRS) share price has plunged 35% lower to $2.89 following the release of a disappointing trading update. For the first 15 weeks of FY 2019, the discount retailer has seen comparable store sales fall 2.4% compared to the prior corresponding period. This follows a severe deterioration in its sales over the last 8 weeks.

The St Barbara Ltd (ASX: SBM) share price has dropped 3% to $3.87. While most gold miners are sinking lower today as investors move back to risk on assets, St Barbara has fallen more than most following the release of its quarterly update. Investors appear disappointed that St Barbara reported consolidated quarterly gold production of 98,547 ounces in the first quarter of FY 2019 compared to 119,436 ounces in the fourth quarter of FY 2018.

Motley Fool Australia Issues Rare "Double Down" Buy Alert

Scott Phillips has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his 25 years as a professional investor.

This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again. This is your chance to get in early.

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 has recommended The Reject Shop 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.