The Motley Fool

Why Corporate Travel, Jumbo, Mesoblast, & Westgold shares are dropping lower

In early afternoon trade the S&P/ASX 200 index is on course to record a strong gain. At the time of writing the benchmark index is up 1.7% to 6,431.4 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

The Corporate Travel Management Ltd (ASX: CTD) share price is down over 2% to $12.00. The corporate travel specialist’s shares have come under pressure today after trading ex-dividend for its latest pay out. Eligible shareholders can now expect to be paid a partially franked 18 cents per share dividend in just under six weeks on April 14.

The Jumbo Interactive Ltd (ASX: JIN) share price has fallen 4.5% to a 52-week low of $10.23. A decent portion of this decline can be attributed to its shares also trading ex-dividend this morning. The online lottery ticket seller will be paying eligible shareholders a fully franked 18.5 cents per share dividend in around two weeks on March 20. Outside this, the Jumbo share price has come under pressure in recent months due to the narrowing of its margins following its investment in growth opportunities.

The Mesoblast limited (ASX: MSB) share price is down 2% to $2.25. The regenerative medicine company’s shares have been on a downward trend since the release of its half year results. Those results revealed a 43% increase in revenues to US$19.2 million but a sizeable loss after tax of US$30.1 million.

The Westgold Resources Ltd (ASX: WGX) share price is down 3% to $2.03. This appears to be due to profit taking after a solid gain on Wednesday. Investors were buying the gold miner’s shares following an update on its Cue Gold Operations at the Big Bell underground mine. That update revealed that sub level cave stoping has recommenced, paving the way for the planned ramp up in mine output.

Here at The Motley Fool Australia, we believe THIS is the ASX’s Next Monster IPO Stock

Right now, The Motley Fool Australia’s analysts can’t contain their excitement about this recent IPO. Trading at around $6, the stock has already shot up like a rocket ship, more than 190% since its IPO last year.

The company has almost tripled its registered clients over its most recent financial year, AND has recently signed several “transformational” deals in the US as it eyes a more than $24 billion market opportunity.

Even more exciting, management has already witnessed their growth more than double year-on-year.

This new recent-IPO is ALREADY on the move since we first recommended it… and we believe the sky could be the limit. But you could be missing out on huge gains if you sleep on this stock.

To find out how to get the name of this stock, simply click the link below right now.

Click here now to find out.

As of 13/2/20

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 and recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Jumbo Interactive 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.