Why Audio Pixels, Marley Spoon, PointsBet, and Vulcan shares are sinking

These ASX shares are ending the week deep in the red…

| More on:
shadow of a man looking out a window with arrows signifying falling share price

Image source: Getty Images

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.7% to 7,378.9 points.

Four ASX shares that are falling more than most today are listed below. Here’s why these ASX shares are sinking:

Audio Pixels Holdings Ltd (ASX: AKP)

The Audio Pixels share price has tumbled 11% to $23.55 following the release of its quarterly update. Investors may be concerned with the digital speaker development company’s balance sheet. At the end of the period, the company had cash of just under $500,000 and a $2 million loan facility. This gives it just 1.7 quarters worth of funding.

Marley Spoon AG (ASX: MMM)

The Marley Spoon share price has crashed 31% to $1.04. This follows the release of the meal kit delivery company’s quarterly update. Due to volatile consumer behaviour, the company has downgraded its full year revenue growth guidance. It now expects growth of 26% to 28% compared to previous guidance of 30% to 35% growth.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is down 6% to $8.11. Investors have been selling the sports betting company’s shares since the release of its first quarter update yesterday. That update revealed softer growth than the market was expecting. Goldman Sachs believes the selloff is a buying opportunity.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is sinking 14% to $12.89. This morning this lithium developer’s shares returned to trade after responding to a scathing report from short-focused activist investor J Capital. In response, Vulcan stated that the report contains many claims that are wrong and misleading. Despite this, a good number of investors appear to have been spooked and have been rushing to the exits on Friday.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor 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 has recommended Marley Spoon AG and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Marley Spoon AG. The Motley Fool Australia has recommended Pointsbet Holdings 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 Market News

a man with a wry smile is behind ascending piles of coins as he places another coin on top of the tallest stack.
Share Market News

Can ASX 200 banks really see a 15% profit jump if the cash rate hits 1%?

These analysts are predicting big returns for banks in the rising interest rate environment.

Read more »

An office worker and his desk covered in yellow post-it notes
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Wednesday

We take a look at the most traded ASX 200 shares by volume today.

Read more »

an oil refinery worker checks her laptop computer in front of a backdrop of oil refinery infrastructure. The woman has a serious look on her face.
Energy Shares

ASX 200 energy shares in focus amid frightening global supply crisis

A dearth of new fossil fuel projects in recent years has opened the door to today's global energy crisis.

Read more »

A happy man and woman sit having a coffee in a cafe while she holds up her phone to show him the ASX shares that did best today
Share Market News

ASX 200 midday update: BlueScope and Fortescue rise, Boral tumbles

The ASX 200 is having a strong day on Wednesday...

Read more »

A man standing in a red rock mine is covered by a sheet of gold blowing in the wind.

What’s sending the Northern Star share price higher today?

The gold miner reported it will return 20% to 30% of cash earnings as dividend payouts at its investor presentation,…

Read more »

Legendary share market investing expert and owner of Berkshire Hathaway Warren Buffett
Share Market News

Warren Buffett’s been bargain hunting following the stock market sell-off. Here’s the sector he’s been buying (and selling)

We check the investing guru's recent buys and sells.

Read more »

Share Market News

5 things to watch on the ASX 200 on Wednesday

A strong day is expected on the ASX 200 on Wednesday...

Read more »

top 10 asx shares today
Share Market News

Here are the top 10 ASX shares today

Here are your top 10 biggest gainers in the ASX 200 on Tuesday.

Read more »