The All Ordinaries (Index: ^AORD) (ASX: XAO) might be up 1.5% for the day, but a number of companies saw their share prices fall heavily.
Ordinarily, we wouldn't worry too much about one-day falls in share prices, but if there's some news behind the move, investors may need to factor that into their expectations.
Here are four stocks heavily sold off by investors today…
Lifestyle Communities Limited (ASX: LIC) share price slumped 6.1% to $2.63, despite no news from the company. Lifestyle Communities develops and manages community villages – not exactly retirement villages as such, but for those people looking to downsize to smaller, cheaper housing with a community atmosphere. Given the tailwinds of an aging population and 7 villages under construction or awaiting commencement, Lifestyle Communities could be onto a good thing.
Ozforex Group Ltd (ASX: OFX) share price dropped 4.3% to $2.48, again, despite no news from the company. The currency exchange company forged a new deal with accounting firm Xero back in August 2015, but since then it's been all down hill. Maybe it's the lack of news and traders getting bored with the stock forcing today's price down. Interestingly, shares are unchanged from a year ago.
Senex Energy Ltd (ASX: SXY) share price fell 3.9% to $0.125. The oil and gas company is obviously suffering from the huge plunge in oil prices over the past 12 months or so. Removal from the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) by Standard & Poors could also mean that fund managers restricted to the top 200 stocks are getting out.
Independence Group NL (ASX: IGO) share price sunk 2.3% to $3.00. The nickel, gold, zinc and copper miner miner has just completed its takeover of Sirius Resources, and recently reported record revenues of around $500 million. Independence Group also declared a 26 cent dividend, and expects to pay out 30% of earnings in future. Interestingly, Independence had no debt at the end of June 2015, and $121 million cash in the bank.
