In afternoon trade the S&P/ASX 200 index looks set to start the month with a decline. At the time of writing the benchmark index is down 0.25% to 6,795.2 points.
Four shares that have fallen more than most today are listed below. Here’s why they have dropped lower:
The Bubs Australia Ltd (ASX: BUB) share price has tumbled 4.5% to $1.29 despite there being no news out of the infant formula and baby food company. However, with the company’s shares up significantly in recent months, I suspect that profit taking could be weighing on them today. Despite today’s decline, the Bubs share price is up 180% year to date.
The Dicker Data Ltd (ASX: DDR) share price has fallen heavily for a second day in a row and is down 6% to $6.32 this afternoon. This is despite the company announcing its appointment as a distributor for Nutanix in the ANZ market this morning. Dicker Data’s share price decline prompted an ASX Price Query. To which the company advised that it “is not aware of any additional information which could relate to the fluctuation of the share price.” It also confirmed that its half year result will be in line with guidance.
The Janus Henderson Group PLC (ASX: JHG) share price has sunk 10% lower to $28.58 after the fund manager’s second quarter update disappointed the market. Janus Henderson reported net income of US$109.4 million in the second quarter and US$229.7 million in the first half. The latter was a 22% decline on the prior corresponding period. The company also revealed that it has been struggling with its AUM.
The Resolute Mining Limited (ASX: RSG) share price has dropped 6.5% to $1.66 after the gold miner announced a binding agreement to acquire Toro Gold for US$274 million. Although the acquisition is expected to boost its production and lower its costs, investors don’t appear convinced by the deal. In addition to this, a pullback in the gold price is weighing heavily on all the gold miners today.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting...
Because 'Doc' Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget 'buy now pay later', this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
Returns as of 6th October 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia has recommended BUBS AUST FPO. 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.
- 2 fantastic ASX growth shares to buy this month – January 22, 2021 4:45pm
- Leading broker tips Super Retail (ASX:SUL) share price to rocket higher – January 22, 2021 4:08pm
- 3 reasons the BHP (ASX:BHP) share price could be in the buy zone – January 22, 2021 3:41pm