In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to give back yesterday's gains. At the time of writing, the benchmark index is down 0.8% to 6,645 points.
Four shares that have fallen more than most today are listed below. Here's why they are dropping lower:
Afterpay Ltd (ASX: APT)
The Afterpay share price is down 3% to $118.58. This decline appears to be a combination of weakness in the tech sector and profit taking after some strong gains. Despite today's decline, the Afterpay share price is still up a whopping 286% since the start of the year.
DEXUS Property Group (ASX: DXS)
The DEXUS share price has fallen 3% to $9.46. The majority of this decline is attributable to the property company's shares trading ex-dividend this morning for its interim dividend. Eligible shareholders can now look forward to receiving this 28.8 cents per share unfranked dividend in their accounts on 26 February. A number of other property companies are trading lower for the same reason on Wednesday.
Integrated Research Limited (ASX: IRI)
The Integrated Research share price has crashed 13% lower to $2.62. Investors have been selling the performance management solutions company's shares after it downgraded its guidance just 12 days after giving it. Integrated Research now expects first half revenue to be in the range of $34 million to $37 million and first half profit to be in the range of breakeven to $2 million. On the top line, this will mean a decline of 30.5% to 36% compared to the first half of FY 2020. Whereas on the bottom line, this will be an 83% to 100% decline on the prior corresponding period.
Regis Healthcare Ltd (ASX: REG)
The Regis Healthcare share price has dropped 4.5% to $1.89. This is despite there being no news out of the aged care operator on Wednesday. However, this decline has merely reversed all of Tuesday's gains, which also occurred on the back of no news.
