The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with an impressive gain. In late trade, the benchmark index is up 1.1% to 6,972.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Hereâs why they are dropping:
Chorus Ltd (ASX: CNU)
The Chorus share price is down 2% to $6.93. This has been driven by the New Zealand based telecommunications companyâs shares trading ex-dividend this morning. Eligible shareholders can expect to receive a 16.1 cents per share dividend next month on 11 October.
MA Financial Group Ltd (ASX: MAF)
The MA Financial share price has crashed 20% to $4.05. This was despite there being no news out of the financial company formerly known as Moelis. However, it has responded this afternoon, explaining why it thinks its shares were sold off. It commented: âWe note comments made in the media about the potential outcome of the Federal Governmentâs review into the immigration system and its visa programmes including the Significant Investor Visa (SIV).â
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is down 5% to $1.30. Reports that Potentia is trying to gain support for its $1.27 per share takeover offer appear to be weighing on this payments companyâs shares. Investors appear to have been betting on a better offer being made, but that is looking less likely based on current speculation.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price is down 8% to $7.97. This is despite there being no news out of the lithium developer. However, it is worth noting that a number of lithium shares are under pressure on Monday. This could be due to profit taking after some strong gains in recent weeks.
The post Why Chorus, MA Financial, Tyro, and Vulcan Energy shares are dropping appeared first on The Motley Fool Australia.
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
See The 5 Stocks
*Returns as of August 4 2022
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Why did the MA Financial share price just crash 20% before being halted?
- Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?
- Tyro share price climbs another 10%. Could a fresh takeover bid be on the horizon?
- Nitro now Tyro: Could there be âPotentia-lâ for other ASX tech shares?
- Here are 3 ASX 200 shares going ex-dividend on Monday
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. has positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/qguZG2t
Leave a Reply