Why a2 Milk, Atlas Arteria, Audio Pixels, & Nickel Mines shares are sinking

A2 Milk Company Ltd (ASX:A2M) and Nickel Mines Ltd (ASX:NIC) are two of four ASX shares sinking lower on Tuesday…

| More on:
Two men react in shock at Evolution share price drop record profit

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is on course to end the day with a decline. In afternoon trade, the benchmark index is down 0.3% to 7,023.3 points.

Four ASX shares that have fallen more than most are listed below. Here’s why they are sinking:

A2 Milk Company Ltd (ASX: A2M)

The a2 Milk share price is down a further 3.5% to $6.91. Investors continue to sell this infant formula company’s shares amid concerns that it will fall short of its downgraded guidance in FY 2021. This is due to signs of discounting by Australian retailers and weak prices on Chinese ecommerce platforms.

The Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price is down 2.5% to $5.96. This toll road operator’s shares have come under pressure today after revealing that the Virginia State Corporation Commission (SCC) has rejected its request to increase tolls on the Dulles Greenway. Atlas was seeking a rise of 6% this year and 6.5% next year. However, the Virginia SCC will leave the price at $5.80 for the next two years.

Audio Pixels Holdings Ltd (ASX: AKP)

The Audio Pixels share price has sunk 11% to $23.00. This follows the release of the speaker development company’s quarterly update. Within that update, Audio Pixels revealed that the semiconductor shortage had a dramatic impact on the packaging of its chips. This means the demonstration of its technology has been pushed back yet again until the end of the current quarter. Audio Pixels has been promising this technology for around 15 years now.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price has crashed 15% to $1.09 following the release of its quarterly update. For the three months ended 31 March, Nickel Mines reported quarterly production of 10,067.5 tonnes of nickel metal. This was down 12.7% from the December 2020 quarter. In addition, higher costs and lower sales volumes led to the company reporting a 29.2% decline in EBITDA to US$50.7 million.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Beach, BHP, Bubs, and Galileo Mining shares are sinking

These ASX shares are under pressure on Wednesday...

Read more »

A man wearing a suit and sitting at his desk in front of his computer puts his hand to his forehead in frustration over the delayed Afrterpay takeover
Technology Shares

How did Xero shares do in the 2022 financial year?

The Kiwi software maker has been a favourite among investors over the past 5 years. But how has it done…

Read more »

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Resources Shares

Why did the Rio Tinto share price hit the brakes in FY22?

Rio Tinto shares recorded one of its most volatile years on record.

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Ardent Leisure, Betmakers, Suncorp, and Ten Sixty Four shares are dropping

These ASX shares are falling on Tuesday...

Read more »

a man wearing a business shirt and pants reclines on a leather sofa with his laptop computer resting on his stomach as he looks concerned at what he's reading on the screen.
Share Fallers

Why did the Adairs share price fall 18% in June?

June was a shocking month for shares in Adairs.

Read more »

A male executive worker wearing glasses and a blue collared shirt looks at his laptop screen with a concerned look on his face and his hand to his forehead as he watches the Bank of Queensland share price fall
Share Fallers

Why did the NAB share price backtrack 12% in June?

NAB shares were in poor form for the month of June.

Read more »

Businessman puts hand over eyes on a sinking boat in ocean
Share Fallers

Wipeout: Why did the Magellan share price sink 70% in FY22?

The last financial year was a horror show for Magellan.

Read more »

Red arrow going down on a chart, symbolising a falling share price.
Share Fallers

Why Audio Pixels, Lake Resources, Link, and Magellan shares are dropping

These ASX shares are starting the week in the red...

Read more »