4 shares sinking on the ASX today

S&P/ASX 200 closes up just 0.1% as rally fizzles out

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has closed up 0.1% at 5,101.30 points after an early rally fizzled out.

These four companies saw their share prices sink…

Select Harvests Limited (ASX: SHV) share price crashed another 8.9% to $4.21 and has now fallen more than 61% in the past six months. Investors are likely fretting over sliding almond prices and that buyers in the almond market have 'disappeared' as we discussed earlier this month, and the impact of that on Select's earnings. Until more information is available, an investment now is highly speculative, despite the apparent cheap price.

Virgin Australia Holdings Ltd (ASX: VAH) saw its share price sink 8.8% to $0.34, after major shareholder Air N.Z. FPO NZ (ASX: AIZ) announced it was planning to dump its $347 million stake in Virgin to focus on its own growth plans. Air NZ says it was still supportive of Virgin and would continue to work with Virgin on their trans-Tasman partnership. But investors may be worried there are other reasons Virgin's largest shareholder wants to sell out.

Paladin Energy Ltd (ASX: PDN) share price dropped 5% to $0.25 as the uranium miner continues to see its shares jump around. Paladin's share price is still down 37% from a year ago, and the spot uranium price has crashed below US$30 a pound. At that price, Paladin is likely below breakeven and could be forced to cease operations at its one remaining mine, particularly now the price has been below US$40/lb since June 2013 – and shows no sign of recovering to higher levels.

CSG Limited (ASX: CSV) saw its share price fall 4.4% to $1.21. The print and technology business solutions company hasn't released any news for over a month, but it could be that investors are selling out of a company that appears overpriced. A trailing P/E ratio of 28x for a company that only managed to generate 10% growth in underlying net profit in the last half year doesn't appear to offer much value.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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