The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from yesterday's selloff with a solid gain on Thursday. In afternoon trade the benchmark index is up 1.4% to 5,634.1 points.
Four shares that have failed to follow the market higher on Thursday are listed below. Here's why they are tumbling lower:
The Brainchip Holdings Ltd (ASX: BRN) share price has fallen 5% to 9.1 cents after the artificial intelligence company released an end of year update. The presentation provided a list of highlights and lowlights for 2018. Investors appear to have focused mainly on the lowlights today which include weak sales of its BC Studio product last year.
The BWX Ltd (ASX: BWX) share price has fallen 4.5% to $1.58. I suspect that today's decline is down to profit taking from some investors. Prior to today the BWX share price had risen almost 18% in the space of the week. Despite this, the company's shares are still down 45% since the release of a surprise profit guidance downgrade last month.
The JB Hi-Fi Limited (ASX: JBH) share price has tumbled 3% to $20.98. A number of retail shares have taken a tumble today after Kathmandu advised that its Christmas trading was notably weaker than expected. I suspect that investors are concerned that this was not an isolated case and that retailers like JB Hi-Fi may have also struggled during the holiday period.
The Kathmandu Holdings Ltd (ASX: KMD) share price has crashed 14.5% lower to $2.24 after providing a trading update. According to the release, Kathmandu's summer sale hasn't been anywhere near as successful as management hoped. As a result of this, group same store sales for the 22 weeks to December 30 are down 1% on the prior corresponding period. As a comparison, at the 15-week mark the company's same store sales were up 6.3% on the prior corresponding period.
