The Australian sharemarket has rallied hard since the beginning of the month, but it appears to be taking a breather today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down a negligible 0.1%.
However, these four ASX companies are falling considerably harder. Here's why…
1-Page Ltd (ASX: 1PG) shares dived 7.5% to trade at $4.70 per share – down from yesterday's high of $5.13. There has been no company-specific news that would explain the fall, so it seems likely the selloff could relate to a bout of profit taking. Indeed, the company's shares had risen more than 1,360% since listing in October 2014 before today, so some profit taking is to be expected.
Bellamy's Australia Ltd (ASX: BAL) is another market favourite that has fallen in price today. The shares are down 2.1% to $7.56, again with no news to explain the sudden fall. Bellamy's is a company that provides a range of organic food and baby formulas which are becoming increasingly popular both in Australia and abroad. Any pullback in price could be a great opportunity to load up on the shares.
Integrated Research Limited (ASX: IRI) has shed 6.2% of its market value to trade at $2.57 – down from a recent all-time high of $2.80. The selloff likely relates to an announcement made by the company that its Chairman, Mr Steve Killelea, will sell up to 5 million of his shares, being almost 3% of the company's ordinary shares on issue. At the same time, he will be progressively decreasing his involvement in the company over the next five years to focus on more philanthropic interests.
Greencross Limited (ASX: GXL) also lost 3.2% of its market value, falling to $6.43 per share. Greencross' shares have remained somewhat volatile in recent months, and have even fallen from an all-time high of $10.78 just over 12 months ago. Considering its future growth prospects and earnings potential, now could be a great time to consider buying shares in the leading vet and pet retailer on the ASX.
