In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 7,709.6 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
Accent Group Ltd (ASX: AX1)
The Accent share price is down 7% to $1.93. This has been driven largely by the retailer’s shares going ex-dividend this morning for its latest dividend. The owner of The Athlete’s Foot and Hype DC is paying shareholders a fully franked interim dividend of 8.5 cents per share later this month on 21 March.
Cettire Ltd (ASX: CTT)
The Cettire share price is down 15% to $3.95. This morning, this online luxury products retailer was the subject of a report from the Australian Financial Review. It highlights that it bought products and was charged duties. However, those duties were banked by the company and not paid to Australian customs. Investors appear concerned how much of Cettire’s sales and profits is being generated through this method.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is down 10% to $10.80. This has been driven by news that the company’s founder and CEO, David Dicker, has sold a large number of shares. Dicker sold down approximately 18.3 million shares at a price of $10.90 per share by way of an underwritten block trade. This represents a total consideration of almost $200 million.
Iress Ltd (ASX: IRE)
The Iress share price is down 6.5% to $8.41. This morning, this financial technology company denied media speculation that it has been in takeover talks with private equity firm Thoma Brava. It said: “Iress is not aware of any such information. In relation to the News Article, Iress is not in discussions or in receipt of a proposal in relation to a potential control transaction for Iress.”
The post Why Accent, Cettire, Dicker Data, and Iress shares are dropping today appeared first on The Motley Fool Australia.
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More reading
- Why is the Cettire share price crashing 27% on Wednesday?
- Why is this ASX 200 tech stock crashing 11% today?
- Why is the Accent share price sinking 6% today?
- Here are the top 10 ASX 200 shares today
- Got $5,000? Buy and hold these ASX value stocks for years
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 Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool Australia has recommended Accent Group and Cettire. 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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