The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a positive note. In early afternoon trade the index is up 0.4% to 5,621.5 points.
Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red:
The Audio Pixels Holdings Ltd (ASX: AKP) share price is down a further 4.5% to $21.00. The digital speaker developer’s shares have come under pressure again possibly from profit taking after going on a tear this month. Its shares rose strongly after announcing the achievement of three major technological breakthroughs that management believes demonstrate the progress the company has made towards delivering its “breakthrough technology” to the market at long last.
The BWP Trust (ASX: BWP) share price has dropped 3% to $3.58. This decline is almost entirely attributable to the Bunnings landlord’s units going ex-dividend this morning. Eligible BWP unit holders can now look forward to receiving its 8.9 cents per share interim distribution in their nominated accounts on February 22.
The DEXUS Property Group (ASX: DXS) share price has fallen 2.5% to $10.77. As with BWP Trust, the selling today can be attributed to DEXUS Property Group’s units trading ex-dividend this morning. Eligible unit holders will be paid this 27.4 cents per unit distribution on February 28.
The Starpharma Holdings Limited (ASX: SPL) share price is down a further 6% to 92.5 cents. The healthcare company’s shares have fallen heavily this week after the U.S. FDA advised that it wants confirmatory clinical data before it will approve its promising VivaGel product. The company’s CEO appeared to be very disappointed with the decision, but pledged to work with the FDA to understand how it can come to provide the necessary clinical data for approval.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.
- 3 mid cap ASX shares that could generate strong long term returns – August 11, 2020 6:00pm
- 5 quality ASX shares to buy in August – August 11, 2020 5:05pm
- 3 of the best ETFs for ASX investors to buy right now – August 11, 2020 4:37pm