Why Australian Ethical, GUD, Nuix, and Redbubble shares are tumbling lower

It has been a tough start to the month for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark …

| More on:
shocked man looking at laptop with declining arrows in the background showing a falling share price

Image source: Getty Images

It has been a tough start to the month for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index is off its intraday lows but still down 0.25% to 7,238.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 4% to $14.00 following the release of an update on its earnings expectations for the first half of FY 2022. The ethical-focused fund manager expects its first half underlying profit after tax (UPAT) to come in ~8% above the prior corresponding period. This appears to have fallen short of expectations.

GUD Holdings Limited (ASX: GUD)

The GUD share price has returned from its trading halt and is down 10% to $10.81. Investors have been selling this diversified products company’s shares after it announced the completion of the institutional component of its equity raising. GUD raised $405 million at a 13% discount of $12.03. These funds will be used to acquire Auto Pacific Group for approximately $744.6 million.

Nuix Ltd (ASX: NXL)

The Nuix share price has continued its slide and is down almost 5% to $2.15. This investigative analytics and intelligence software company’s shares have come under pressure since the release of another disappointing trading update this week. That update reveals the Nuix’s revenue was up 10% during the first four months of FY 2022. However, a significant jump in costs means that its pro forma EBITDA has fallen 27% during the same period.

Redbubble Ltd (ASX: RBL)

The Redbubble share price has dropped 4% to $3.39. This is despite there being no news out of the ecommerce company. However, short sellers have been increasing their positions in the company recently, making Redbubble one of the most shorted shares on the Australian share market. They don’t appear to believe that its performance will improve in the near term.

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 Australian Ethical Investment Ltd. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has recommended Australian Ethical Investment 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

asx share price falling lower represented by investor wearing paper bag on head with sad face
Share Fallers

These were the worst performing ASX 200 shares last week

It was another tough week for the S&P/ASX 200 Index (ASX: XJO) after the US Federal Reserve indicated that it would start …

Read more »

share price dropping
Share Fallers

Why AnteoTech, Newcrest, Nitro, and ResMed shares are falling

In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with on a positive note. …

Read more »

Young boy with glasses and grey long sleeved top looking pensive as if wondering about asx share price
Share Fallers

The OZ Minerals (ASX:OZL) share price has dumped 11% this week. Is it a bargain?

Key points OZ Minerals shares are down 11% so far since last Friday’s close Despite the bearishness, the team at …

Read more »

share price dropping
Share Fallers

Why Evolution, Cettire, Hipages, and Kogan shares are sinking

After a decent start to the day, the S&P/ASX 200 Index (ASX: XJO) is tumbling lower again in afternoon trade. At …

Read more »

a man in a hard hat and checkered shirt holds paperwork in one hand as he holds his hands upwards in an enquiring manner as though asking a question or exasperated by uncertainty.
Share Fallers

OZ Minerals (ASX:OZL) share price slips despite record $2 billion revenue

The OZ Minerals Ltd (ASX: OZL) share price is sliding during this morning’s session and is now trading 1.48% in the …

Read more »

A man in a white coat holds a laptop in one hand and his head in the other, it's bad news.
Share Fallers

Polynovo (ASX:PNV) share price melts 31% in 2 weeks. What’s going on?

Key points The Polynovo share price has slipped more than 30% in the past 2 weeks Pressure has been on …

Read more »

An arrow crashes through the ground as a businessman watches on.
Share Fallers

Why Accent, BrainChip, Fortescue, and Novonix shares are sinking

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a big decline. At the time of …

Read more »

A guys points his fingers down.
Share Fallers

Why Adairs, Bigtincan, Regis Resources, and Telix shares are sinking

In afternoon trade on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. …

Read more »