MENU

Why these 4 ASX shares have dropped lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has fought back from a heavy decline and is pushing higher. At the time of writing the index is up 0.1% to 5,882.7 points.

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

The Kogan.com Ltd (ASX: KGN) share price is down 4% to $2.73 despite the ecommerce company announcing plans to enter the Superannuation market. According to the release, Kogan.com and Mercer have agreed to form an innovative partnership to launch Kogan Super – No Frills Super. It will leverage the company’s digital efficiency to be one of Australia’s cheapest superannuation options. Judging by the share price reaction, the market doesn’t appear overly convinced by the move. Nor am I at this stage, but I’ll be watching on with interest.

The Pushpay Holdings Ltd (ASX: PPH) share price is down over 4% to $3.34 following the release of its full year results. Although the payments company reported a sizeable 48% increase in half year revenue to US$44 million, I suspect the market had been expecting Pushpay to outperform its guidance. I do think when the dust settles that it could be worth considering with a long-term view.

The SEEK Limited (ASX: SEK) share price is down 3% to $17.49 despite there being no news out of the job listings giant. This latest decline means that SEEK’s shares have now fallen over 22% in the space of two months. I think at this level it is starting to look attractive for investors prepared to make a buy and hold investment.

The Webjet Limited (ASX: WEB) share price has returned from its trading halt and fallen 8% to $11.87. Investors don’t appear to have seen enough value in its US$173 million acquisition of Destinations of the World to offset the dilutive effects of the capital raising needed to fund it. While I do think it will boost its B2B business, buying from private equity does pose risks.

Need a lift after these declines? Then check out these blue chip shares that have been tipped to be market beaters next year.

Top 3 ASX Blue Chips To Buy For 2019

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 2019."

Each one pays a fully franked dividend. 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 owns shares of SEEK Limited. The Motley Fool Australia owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended Kogan.com ltd, SEEK Limited, and Webjet Ltd. 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!