The S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is edging lower. At the time of writing, the benchmark index is down 0.1% to 7,502.7 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
Afterpay Ltd (ASX: APT)
The Afterpay share price is down a further 2.5% to $82.82. This follows yet another pullback in the Block (Square) share price overnight. The Block share price has now lost 22% of its value since this time last month. This is reducing the value of the all-scrip takeover proposal that Afterpay shareholders recently approved.
Healius Ltd (ASX: HLS)
The Healius share price is down over 3% to $5.34. This decline could be due to the growing emphasis on using rapid antigen tests for COVID-19. Healius has been a huge winner from COVID-19 testing over the last 18 months but could see the current sky high volumes ease in the coming weeks as rapid antigen tests begin to rollout.
IDP Education Ltd (ASX: IEL)
The IDP Education share price is down 5% to $33.89 despite there being no news out of the language testing and student placement company. However, investors may be concerned that the significant rise in Omicron cases globally could have a negative impact on its businesses.
Transurban Group (ASX: TCL)
The Transurban share price is down 1.5% to $13.72. The catalyst for this has been the toll road operator’s shares trading ex-dividend this morning for its interim dividend. When a share trades ex-dividend it means that new buyers will not be entitled to an upcoming dividend. As a result, a share price will usually drop in line with the dividend to reflect this. Transurban will now pay eligible shareholders a 15 cents per share dividend on 22 February.
The post Why Afterpay, Healius, IDP Education, and Transurban shares are falling appeared first on The Motley Fool Australia.
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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. owns and has recommended Afterpay Limited and Idp Education Pty Ltd. The Motley Fool Australia owns and has recommended Afterpay Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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