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.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- Can the Flight Centre (ASX:FLT) share price fly again in 2021?
- ASX 200 down 0.6%: Flight Centre sinks, big four banks lower, Ramelius jumps
- Here’s why the Betmakers (ASX:BET) share price is on watch today
- ASX 200 shares hardest hit by COVID-19 in 2020
- ASX 200 up 0.65%: Big four banks rise, tech shares charge higher, Flight Centre jumps
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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why BetMakers, Flight Centre, Monash IVF, & Sydney Airport are dropping lower appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3o695XV
Leave a Reply