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Why Altura Mining, Galaxy Resources, Wellard, and Yojee shares are sinking lower today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has built on last week’s solid gain and is higher in early afternoon trade. At the time of writing the benchmark index is up 0.6% to 5,688.1 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the year with a day in the red:

The Altura Mining Ltd (ASX: AJM) share price is down over 3% to 15 cents. The majority of the lithium miners are in the red today, possibly due to profit taking following a rally in their respective share prices over the last few trading days. This decline means the Altura share price has lost two-thirds of its value in 2018.

The Galaxy Resources Limited (ASX: GXY) share price has dropped 2.5% to $2.17. As well as being caught up in the general lithium miner weakness today, this morning Galaxy provided an update on its Sal de Vida operation. The market appears disappointed that it has yet to find a strategic partner despite being in negotiations with numerous suitors.

The Wellard Ltd (ASX: WLD) share price has tumbled almost 7% to 5.5 cents after the cattle exporter announced that it has received preliminary reports that the Turkish Government has imposed a halt on the import of live feeder cattle into Turkey from all countries. Management warned that at this stage it is not possible to predict the impact it will have on the company’s shipping schedule in 2019.

The Yojee Ltd (ASX: YOJ) share price has continued its slide and is down a further 3% to 6.4 cents. At one stage today the logistics software company’s shares were trading at a 52-week low. Investors appear disappointed with the company’s financial performance this year despite countless promising announcements over the last couple of years. In the September quarter the company reported cash receipts of just $118,000 compared to outflows of $2 million.

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. 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.

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