In afternoon trade the S&P/ASX 200 index is on course to finish the day in the red. At the time of writing the benchmark index is down 0.55% to 6,324.4 points.
Four shares falling more than most today are listed below. Here’s why they have sunk lower:
The LiveTiles Ltd (ASX: LVT) share price has tumbled 9% lower to 52 cents after the company revealed that its chief financial officer, Matt Brown, has handed in his resignation. Mr Brown will continue to work closely with the co-founders and board in an advisory capacity, focusing on strategic initiatives to accelerate LiveTiles’ global growth. He has, however, decided to step down from the LiveTiles board with immediate effect. Rowan Wilkieas has been named as the new chief financial officer.
The Redbubble Ltd (ASX: RBL) share price is down 14% to 95 cents after the ecommerce company released an investor update. Although Redbubble delivered another quarter of strong revenue growth, it warned that organic search headwinds have persisted and are impacting its business. Management is working hard to resolve the issue, but some investors don’t appear confident that it will be a quick fix.
The Resolute Mining Limited (ASX: RSG) share price has tumbled 5% lower to $1.13 following the release of the gold miner’s third quarter update. During the March quarter the company reported gold production of 98,105 ounces at an AISC of A$1,039 an ounce. It also maintained its full year guidance of 300koz at AISC of A$1,280 an ounce. It appears that some investors may have been expecting an upgrade to its guidance.
The Volpara Health Technologies Ltd (ASX: VHT) share price has dropped 4% to $1.86. This morning the healthcare technology company released its latest quarterly update and provided its guidance for FY 2020. According to the release, in FY 2020 Volpara is targeting annual recurring revenue growth in the range of 50% to 80% and a 10% share of the U.S. market. This may be lighter than some investors were expecting.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended REDBUBBLE FPO. The Motley Fool Australia has recommended VOLPARA FPO NZ. 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.