The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a positive start to the week and in afternoon trade is up 0.5% to 6,223.9 points.
Four shares that have failed to follow the market higher today are listed below. Here’s why they have started the week in the red:
The Evolution Mining Ltd (ASX: EVN) share price has fallen 5% to $3.42 after a sharp decline in the gold price on Friday. At the time of writing the spot gold price is fetching US$1,296 an ounce, meaning it has fallen almost 4% in the less than two weeks. Almost all gold miners have sunk lower today, leading to the S&P/ASX All Ords Gold index tumbling 3.4% this afternoon.
The FBR Ltd (ASX: FBR) share price has continued its slide and is down a further 6% to 9.9 cents. This latest decline means that the robotics company’s shares have dropped around 29% over the last three weeks. The catalyst for this has been a recent $17 million placement at 10.5 cents per share. These funds will be used to continue the “development and testing program for the Hadrian X and its transition into the WaaS business.”
The Japara Healthcare Ltd (ASX: JHC) share price has dropped 4% to $1.36 despite there being no news out of the aged care provider. However, prior to today Japara’s shares had rallied 27% since the start of the year. This could mean that some investors are taking a little bit of profit off the table today.
The Yojee Ltd (ASX: YOJ) share price has plunged 13% lower to 6.7 cents. After the market closed on Friday the logistics technology company released its half year results and revealed revenue of $0.9 million and a loss of $2.5 million. The company finished the period with a cash balance of $6 million, which could mean another capital raising is necessary in the near future.
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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.