It has been another solid day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index is up 0.8% to 5,864 points with gains been seen across the board.
Unfortunately not all shares have been able to climb higher. Four shares in particular which have fallen sharply today are listed below. Here's why they have tumbled:
The G8 Education Ltd (ASX: GEM) share price is down 4.5% to $3.97 today. Today's decline could relate to an ASX release which revealed that investment bank UBS has sold down its stake and is no longer a substantial shareholder. This is the third announcement of its kind this week and could be worrying existing shareholders.
The Orocobre Limited (ASX: ORE) share price has continued to tumble lower, this time by 4% to $2.70. This means the lithium miner has now seen its shares fall by over 40% year-to-date. Earlier this week Orocobre became the most shorted share on the ASX. A sizeable cut to its production guidance appears to be behind the negative sentiment.
The Orecorp Ltd (ASX: ORR) share price has fallen 5% to 53 cents after completing a $20.6 million institutional placement at 48 cents per share. Proceeds from the placement will be used to fast track feasibility, development, and exploration activities at its Nyanzaga Gold Project in Tanzania.
The Thorn Group Ltd (ASX: TGA) share price has tumbled 4% to $1.43. Following today's decline the financial services company's shares have now fallen over 25% so far this year. The catalyst for this was last week's profit downgrade. Thorn reduced its full-year profit guidance to between $24 million and $26 million due to penalties that are likely to be imposed from an investigation into its lending practices.
