In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and on course to record a strong gain. At the time of writing, the benchmark index is up 1% to 6,930.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Hereâs why they are falling:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is down 2% to $5.15. This may have been driven by concerns over the state of the infant formula market in China. On Monday, a smaller rival revealed that the market was being flooded by suppliers. This could lead to softening demand, discounting, and weaker margins.
Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price is down 4% to 49.5 cents. This follows the release of an update on the development of the Rincon Lithium Project in Argentina. That update reveals that 98% of the 2,000tpa operational development work is now complete. However, investors appear frustrated with the slow progress given that 97% of the work was complete last month.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is down almost 3% to $10.47. This morning Ord Minnett responded to the companyâs third quarter update by maintaining its hold rating with an $11.50 price target. The broker notes that Dicker Dataâs third quarter performance was impacted by rising costs and supply chain pressures. Though, on the positive side, the broker highlights that demand remains strong and its order book is elevated.
Life360 Inc (ASX: 360)
The Life360 share price is down 3% to $6.71. This is despite there being no news out of the location technology company. However, it is worth noting that the Life360 share price rose 40% in October. This may have led to some investors taking a bit of profit off the table on Tuesday.
The post Why A2 Milk, Argosy Minerals, Dicker Data, and Life360 shares are falling appeared first on The Motley Fool Australia.
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More reading
- What’s going on with the Dicker Data share price on Monday?
- 3 ASX All Ords shares starting the week on fire
- These ASX dividend shares have been named as buys
- Analysts name 2 ASX growth shares to buy next week
- If you invested $5,000 in each of these ASX shares 10 years ago, youâd be a millionaire today
Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited and Life360, Inc. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has recommended A2 Milk. 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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