In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the shortened week on a positive note. At the time of writing, the benchmark index is up 0.6% to 6,680.9 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they are dropping lower:
Mesoblast limited (ASX: MSB)
The Mesoblast share price is down almost 1% to $2.34. This is despite there being no news out of the biotech company today. However, its shares have been extremely volatile recently after revealing disappointing results from two key studies.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price has tumbled 4% lower to 76 cents. Investors have been selling the fertility treatment company's shares after it revealed that proceedings have been filed against it in the Supreme Court of Victoria. These proceedings are in relation to the company's non-invasive preimplantation genetic screening technology. The claim does not specify an amount of damages sought.
Netwealth Group Ltd (ASX: NWL)
The Netwealth share price has fallen almost 3% to $15.94. Investors have been selling the investment platform provider's shares despite there being no news out of it. However, with its shares up over 100% since the start of the year, this decline could be due to profit taking from some investors.
Reece Ltd (ASX: REH)
The Reece share price is down 1.5% to $14.85. Once again, this is despite there being no news out of the plumbing parts company today. Though, prior to today the company's shares were up strongly over the space of the month. This was driven partly by the company's inclusion in the ASX 200 index at the quarterly rebalance. Reece joined the illustrious index on Monday.
