Although shares on the local stock market are generally trading higher today, there are a few that are sitting not so pretty. Here are four worth mentioning:
Nearmap Ltd (ASX: NEA) shares continued their steep decline, falling another 12.9% after the aerial imagery company parted ways with its Managing Director, Simon Crowther. Taking his place will be Dr Rob Newman who Nearmap says has solid experience in taking Australian tech companies into the competitive US market. Nearmap is already expanding there but this could help speed up the process.
BABY B FPO (ASX: BBN), or Baby Bunting, has also retreated 1.6% with the shares now trading at $1.87. Although this is only a marginal decline, it's worth mentioning the shares have soared 35.7% since debuting on the ASX two days ago. Baby Bunting is a leading retailer of all things babies and could be worth closer inspection — especially if it continues to fall in price.
EVOLUTION FPO (ASX: EVN) also fell 1.3%, reversing some of the gold miner's recent gains. Indeed, the gold sector in general has performed strongly recently as a result of the soaring gold price, which has largely been due to global economic uncertainty and heightened expectations that the US Federal Reserve will hold off from hiking interest rates, possibly until next year. The mineral has sunk in price marginally today however, taking some of the heat out of the sector.
Integrated Research Limited (ASX: IRI) fell 6.1% to $2.33, down from a high of $2.76 just over a week ago. Indeed, the shares had soared in price prior to that, but investors now appear to be selling the stock down after Steve Killelea, the group's chairman, announced his intention to sell up to 5.27% of his shareholding. This doesn't necessarily mean the shares are overpriced, but investors don't seem willing to take that chance. Should the shares fall any further, it could be a reasonable opportunity for long-term investors to stock up.
