Why Carbon Revolution, Fisher & Paykel, Nuix, & Paradigm are tumbling lower

Carbon Revolution Ltd (ASX:CBR) and Nuix Ltd (ASX:NXL) shares are two of four tumbling lower on Tuesday…

| More on:
An ASX investor looks devastated as he watches his computer screen, indicating bad news

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.7% to 7,095.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are tumbling:

Carbon Revolution Ltd (ASX: CBR)

The Carbon Revolution share price is down 13% to $1.34. Investors have been selling the carbon fibre wheels manufacturer's shares after it revealed that one of its major customers has suspended vehicle production due to the shortage of computer chips. As a result, Carbon Revolution believes it will sell around 1,800 fewer wheels in FY 2021 compared to FY 2020.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is down 4% to $30.45. This is despite there being no news out of the medical device company. However, with its full year results due to be released in a couple of days, some investors may be nervous. Especially given the high multiples that its shares trade on and the market's high expectations.

Nuix Ltd (ASX: NXL)

The Nuix share price has fallen 6% to $3.42. Investors may be selling the investigative analytics company's shares amid reports that a class action could be filed against it. According to the AFR, a number of class action firms have confirmed their interest in taking the company to court.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price has sunk 8% to $2.14. This morning the biopharmaceutical company provided the market with an update on its dealings with the US FDA. The release advised that Paradigm has received written feedback regarding the investigational new drug submission for its pivotal study evaluating PPS in knee osteoarthritis. The agency provided its suggested mitigation strategies to address its positions and questions, which include further detailed clinical monitoring.

 

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 Carbon Revolution Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Carbon Revolution Limited and Nuix Pty Ltd. 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

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Coles, Liontown, Lovisa, and Wildcat shares are dropping today

These ASX shares are having a difficult session. But why?

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Materials Shares

Why are ASX lithium shares like Pilbara Minerals crashing on Tuesday?

Lithium stocks are getting another whack today.

Read more »

Miner and company person analysing results of a mining company.
Materials Shares

Up 2,150% in a year, why is the Wildcat Resources share price crashing today?

Investors appear displeased with Wildcat's latest update on the Tabba Tabba project.

Read more »

Happy couple enjoying ice cream in retirement.
Share Fallers

2 classic ASX 200 shares you can buy for cheap now to hold for years

Experts reckon these well-known stocks are in a temporary dip that shrewd investors could take advantage of.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Cettire, Fletcher Building, Lake Resources, and Nick Scali shares are falling today

These ASX shares are having a tough time on Monday. But why?

Read more »

Businessman puts hand over eyes on a sinking boat in ocean
Materials Shares

Down 80% in a year why are Lake Resources shares tumbling again today?

ASX lithium stock Lake Resources is under selling pressure again on Monday.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why Ampol, Calix, Collins Foods, and Propel shares are tumbling today

These ASX shares are ending the week in the red. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Australian Finance Group, Chalice, DroneShield, and ResMed are sinking today

These ASX shares are having a tough time on Thursday. But why?

Read more »