In late 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 0.5% to 7,034.1 points.
Four ASX shares that have failed to follow the market’s lead today are listed below. Here’s why they are falling:
Betmakers Technology Group Ltd (ASX: BET)
The Betmakers share price is down 3.5% to 55.7 cents. Investors have been selling down this betting technology company’s shares following the release of its half year results. According to the release, the company recorded a loss after tax of $27.8 million for the half. This compares to a loss after tax of $4.4 million a year earlier.
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price is down 2.5% to $18.14. This decline has been driven by the mining giant’s shares trading ex-dividend this morning. In fact, if you take Fortescue’s 86 cents per share interim dividend out of the equation, its shares would be rising on Monday. Eligible shareholders can look forward to being paid this dividend on 30 March.
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is down 3.5% to $10.73. This morning the insurance giant revealed that thousands of its customers have been impacted by heavy rainfall and flooding in south-east Queensland and northern New South Wales. According to the release, Suncorp has received more than 5,000 claims across both states as of 28 February. This is likely to rise further in the coming days.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is down 4.5% to $1.55. Investors have been selling this payments company’s shares following the release of its weekly trading update. This is despite Tyro’s update revealing a 44% increase transaction value month to date to $2,515 billion.
The post Why Betmakers, Fortescue, Suncorp, and Tyro shares are falling appeared first on The Motley Fool Australia.
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More reading
- 5 ASX 200 shares trading ex-dividend today
- Why is the Fortescue (ASX:FMG) share price falling 5% today?
- ASX 200 (ASX:XJO) midday update: Zip to buy Sezzle for $491m, GrainCorp storms higher
- Here’s why the Suncorp (ASX:SUN) share price is slipping today
- These are the 10 most shorted ASX shares
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 Betmakers Technology Group Ltd and Tyro Payments. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Tyro Payments. 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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