In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down a disappointing 0.2% to 5,734 points.
Four shares which have fallen more than most today are listed below. Here's why they have sunk lower:
The GetSwift Ltd (ASX: GSW) share price has fallen 8% to $1.96. I suspect that today's decline is related to profit taking following the fledgling tech company's meteoric rise this week. As I still see significant upside ahead for its share price, I would suggest investors snap up shares on this weakness.
The Independence Group NL (ASX: IGO) share price has tumbled almost 5% to $3.69 after the gold price continued its slide. The spot gold price is now fetching US$1,320 an ounce, almost 3% lower than last week's high. I think the gold price could continue its decline, putting further pressure on the shares of Australia's leading gold miners.
The Resapp Health Ltd (ASX: RAP) share price is down 10.5% to 7.6 cents after the digital healthcare company advised that the planned field evaluation of ResAppDx by Médecins Sans Frontières (MSF) has been cancelled for the time being. While MSF remains positive on the technology, it doesn't wish to proceed with the evaluation due to issues brought up in the failed Smartcough-C study.
The Sirtex Medical Limited (ASX: SRX) share price has fallen 6% to $14.83 despite there being no news out of the regenerative medicine company. Today's decline may be attributable to a research note out of Morgans this morning which revealed that its analysts have downgraded Sirtex to a hold rating. According to the note, Morgans see limited upside for its shares due to intense competition and its ongoing legal battles.
