The Kogan.com Ltd (ASX: KGN) share price is struggling on Tuesday, slumping to its lowest point in nearly 4 weeks.
That’s despite no price-sensitive news having been released by the company since February.
At the time of writing, shares in Kogan are trading for just $5.12, representing a 3.2% tumble on the stock’s previous closing price and an intraday low.
For context, the broader market is also in the red today. The All Ordinaries Index (ASX: XAO) has slumped 0.63% while the S&P/ASX 200 Index (ASX: XJO) has dipped 0.6%.
Additionally, while Kogan was booted from the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) in December, the sector is sliding lower today. It has slumped 0.67% at the time of writing.
Let’s take a closer look at what’s going on with the online retailer and its peers on Tuesday.
What’s weighing on the Kogan share price today?
The Kogan share price is struggling on Tuesday for no obvious reason, but at least it’s not alone.
It’s joined in the red by the stock of many of its consumer discretionary peers. Most notably, that of City Chic Collective Ltd (ASX: CCX).
The clothing retailer’s share price has tumbled 7.8% on Tuesday despite no word being released to the market.
The share prices of PointsBet Holdings Ltd (ASX: PBH) and Breville Group Ltd (ASX: BRG) are in the same boat, sinking 3.7% and 2.6% at the time of writing.
While there’s been no news from Kogan this week, it has remained one of the ASX’s most shorted stocks.
As The Motley Fool Australia’s James Mickleboro reported yesterday, 9% of Kogan’s shares are in the hands of short-sellers.
Additionally, last week the company released a non-price sensitive update announcing a new partnership with QBE Insurance Group Ltd (ASX: QBE)
The pair are teaming up to issue Kogan-branded home, car, and CTP insurance products.
Right now, the Kogan share price is 40% lower than it was at the start of 2022.
The post Why is the Kogan share price slipping to a 4-week low on Tuesday? appeared first on The Motley Fool Australia.
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More reading
- These are the 10 most shorted ASX shares
- What’s the go with the Kogan share price today?
- These are the 10 most shorted ASX shares
- Discounted bargain? The Kogan (ASX:KGN) share price is down 3%
- Kogan (ASX:KGN) shares spike another 6% post federal budget
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Kogan.com ltd and Pointsbet Holdings Ltd. The Motley Fool Australia owns and has recommended Kogan.com ltd. 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.
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