After a positive start to the day, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and dropped lower in afternoon trade. At the time of writing the benchmark index is down slightly to 6,174.3 points.
Four shares that have fallen more than most today are listed below. Here’s why they have started the week in the red:
The HUB24 Ltd (ASX: HUB) share price has dropped 4.5% to $13.56 after one of its directors sold a significant number of shares. According to a change of director’s interest notice, non-executive director Ian Litster sold 275,000 shares through on-market trades last week for $14.05 per share or a total consideration of almost $3.9 million. No reason was given for the sale.
The REA Group Limited (ASX: REA) share price is down almost 5% to $75.73. With no news out of the property listings company, today’s decline could be down to weak housing market data. According to data from CoreLogic, unit prices in Sydney and Melbourne have continued to slide and are now down 7.8% and 3.7%, respectively, compared to the prior corresponding period.
The Vocus Group Ltd (ASX: VOC) share price is down 3% to $3.53 after media speculation of an upcoming equity raise. The telco company has responded to the speculation this morning, advising that its board and management remain comfortable with its debt position. As such, there is no current intention to raise additional equity.
The Wattle Health Australia Ltd (ASX: WHA) share price has tumbled 3.5% to 83 cents despite there being no news out of the infant formula and baby food company. At one stage today the company’s shares hit a 52-week low of 80 cents. Investors appear to be losing patience with Wattle Health after its sales growth in the first half underwhelmed. Last month the company delivered first half revenue of just $363,000 and a sizeable net loss of $4.3 million.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited and Vocus Communications Limited. 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.