In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 1% to 7,022.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Hereâs why they are dropping:
Latitude Group Holdings Ltd (ASX: LFS)
The Latitude share price is down 6% to $1.13. Investors have been selling this lenderâs shares after reporting a cybersecurity incident. This has led to over 300,000 customer documents being accessed, which includes approximately 100,000 copies of driving licences.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is down 9.5% to 91 cents. This has been driven by the department store operatorâs shares trading ex-dividend today. Earlier this month, Myer released its interim results and reported the doubling of its profits. This allowed the Myer board to declare total dividends of 8 cents per share. This comprises a fully franked 4 cents per share dividend and a special fully franked 4 cents per share dividend.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is down 5.5% to $1.78. Investors have been selling Regis Resources and other ASX gold mining shares today after the spot gold price pulled back. This follows improvements in investor sentiment, which reduced demand for the safe haven asset. In addition, traders may be concerned that the US Federal Reserve will raise rates again tonight.
Service Stream Ltd (ASX: SSM)
The Service Stream share price is down over 2% to 66.5 cents. Like Myer, this has also been driven by its shares going ex-dividend today. Last month, the integrated services provider released its half-year results and declared a fully franked 0.5 cents per share dividend. This will be paid to eligible shareholders on 6 April.
The post Why Latitude, Myer, Regis Resources, and Service Stream shares are dropping today appeared first on The Motley Fool Australia.
4 ways to prepare for the next bull market
It’s a scary market. But staying in cash when inflation is surging likely won’t do investors any good either.
And when some world-class companies have pulled back considerably from their recent highs… All while their fundamentals remain unchanged…
It begs the question…
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More reading
- Latitude shares are back on the ASX, but why are they falling 8% today?
- Why is the Myer share price crashing 10%?
- 4 ASX All Ordinaries shares trading ex-dividend on Wednesday
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX 200 shares today
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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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