The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is finishing the week strongly and in afternoon trade finds itself 0.6% higher to 5,773 points.
Unfortunately not all shares have managed to climb higher today. In fact, the four shares below have dropped significantly lower. Here's why:
The 8I Holdings Ltd (ASX: 8IH) share price has dropped almost 7% to 63 cents today. The catalyst for today's decline appears to be the investment company's removal from the All Ordinaries (Index: ^AORD) (ASX: XAO) following today's quarterly rebalance announcement.
The Aconex Ltd (ASX: ACX) share price has fallen almost 5% to $3.49 today. I think the recent drop in its share price has created a buying opportunity for patient buy and hold investors. Although the company cut its full-year guidance, it is still growing at a rate that many other companies could only dream of.
The Macquarie Atlas Roads Limited (ASX: MQA) share price has tumbled almost 5% to $4.63 despite news that the toll road operator will be included in the ASX 100 at the next quarterly rebalance. As a 'bond proxy', I expect that today's decline will be related to the widening of U.S. bond yields overnight.
The Orocobre Limited (ASX: ORE) share price has dropped 5% to $2.68 despite there being no news out of the lithium miner. Due to an unexpected cut to its production guidance, Orocobre's shares have fallen sharply since the turn of the year. Although I think lithium miners could have a bright future, I'm not convinced that Orocobre is the best option for investors at this point in time.
