The S&P/ASX 200 Index (ASX: XJO) is scaling new heights on Friday. In afternoon trade, the benchmark index is up 0.9% to a record high of 7,835 points.
Four ASX shares that are missing out on the good times today are listed below. Here’s why they are falling:
Cettire Ltd (ASX: CTT)
The Cettire share price is down 3% to $3.89. This ecommerce company’s shares have come under pressure this week amid heavy insider selling and a scathing media report. While the company refuted some of the latter’s claims, the negative shopping experiences reported by some users may concern investors.
GQG Partners Inc (ASX: GQG)
The GQG share price is down 1.5% to $2.20. This follows news that Pacific Current Group Ltd (ASX: PAC) has offloaded its stake in the company. PAC has sold almost 120 million shares at a 3.6% discount of $2.16 per share. This equates to a total consideration of $257.3 million.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is down 5% to 32.2 cents. This is despite there being no news out of the biotechnology company today. However, with its shares rising strongly in recent weeks, it’s possible that some investors are taking profit today. Mesoblast shares remain up over 17% since this time last month despite today’s weakness.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
The Nine Entertainment share price is down almost 2% to $1.63. This has been driven by the media company’s shares going ex-dividend this morning for its latest dividend. Last month, Nine Entertainment released its half-year results and declared a fully franked interim dividend of 4 cents per share. This will now be paid to eligible shareholders next month on 18 April.
The post Why Cettire, GQG, Mesoblast, and Nine Entertainment shares are falling today appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Friday
- Up 7%: This All Ords stock reported some big ASX news today
- Cash kings: 2 top ASX dividend shares that pay quarterly
- Cettire shares recover after morning meltdown: What’s happening?
- Why Accent, Cettire, Dicker Data, and Iress shares are dropping 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 recommended Cettire and Nine Entertainment. 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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