In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the year in a disappointing fashion. The benchmark index is currently down 0.7% to 6,637.7 points.
Four shares that are falling more than most today are listed below. Here's why they are dropping lower:
BetMakers Technology Group Ltd (ASX: BET)
The BetMakers share price down 4% to 67 cents. This morning the betting technology company released an update on its share purchase plan. The company is aiming to raise $10 million via a non-underwritten share purchase plan at 60 cents per share. This follows the successful completion of its $50 million placement to institutional and sophisticated investors to acquire assets from UK-based Sportech PLC.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is down almost 4% to $15.87. Investors have been selling Flight Centre's shares after the COVID-19 outbreak in New South Wales spread into Victoria. The latter state has recorded three new cases. This has led to South Australia shutting its border to New South Wales completely and sparked fears that the domestic travel market recovery could be delayed.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price has fallen 2% to 77 cents. This fertility company's shares have come under pressure this month after being hit by a class action. 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.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
The Sydney Airport share price has dropped 1.5% to $6.35. This also appears to have been driven by the spread of COVID-19 across New South Wales and into Victoria. Given how important the Melbourne-Sydney route is for the airport, this latest COVID-19 outbreak could be a big blow to Sydney Airport's recovery.
