Why Dusk, Impedimed, Nufarm, and Weebit Nano shares are falling

A man looks down with fright as he falls towards the ground.

A man looks down with fright as he falls towards the ground.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.6% to 7,278.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Dusk Group Ltd (ASX: DSK)

The Dusk share price is down 16% to $1.27. Investors have been hitting the sell button after this specialist retailer released a disappointing trading update. Dusk revealed that it expects FY 2023 sales of $135 million to $137 million and EBIT of $16 million to $17 million. This compares to FY 2022’s figures of $138.4 million and $26.5 million.

Impedimed Limited (ASX: IPD)

The Impedimed share price is down almost 12% to 13.7 cents. This has been driven by the announcement of a $20 million institutional placement. Impedimed intends to raise the funds at a 16.1% discount of 13 cents per share. Proceeds will be used to accelerate its Private Payor opportunity.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is down 4.5% to $5.78. This may have been driven by profit taking after a strong gain yesterday following the release of its half-year results. In addition, Morgans gave its results a lukewarm reaction. It retained its hold rating with a lowered price target of $6.64.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down a further 2.5% to $5.59. Investors have been selling this meme stock this month amid rising short interest and its sky-high valuation on zero revenue. The Weebit Nano share price is now down by over a quarter since this time last week.

The post Why Dusk, Impedimed, Nufarm, and Weebit Nano shares are falling 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…

Do you have these 4 stocks in your portfolio?

See The 4 Stocks
*Returns as of April 3 2023

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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 recommended Dusk Group. 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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