In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back some of its early gains but still sits higher by a solid 0.5% at 5,770 points.
Unfortunately not all shares have been able to follow the market higher today. Here's why these four have sunk lower:
The Automotive Holdings Group Ltd (ASX: AHG) share price is down 3% to $3.26 despite there being no news out of the auto retailer. This latest decline means that Automotive Holdings' shares have now extended their year-to-date decline to almost 18%.
The Baby Bunting Group Ltd (ASX: BBN) share price has tumbled 7.5% to $1.66 following the release of a business update. According to the update provided at the Morgans Queensland conference, management has reaffirmed its full-year EBITDA guidance of between $25.3 million and $27 million, representing growth of between 10% and 17%. Investors appear to have been anticipating a guidance upgrade.
The Cann Group Ltd (ASX: CAN) share price has fallen 7.5% to $1.24. With no news out of the medicinal cannabis company today, it appears as though today's decline could be attributable to profit-taking. After all, even after factoring in this decline, Cann's shares are up 125% in just the last three months.
The Sims Metal Management Ltd (ASX: SGM) share price is down 2% to $13.32. Today's decline is a bit of a mystery, especially given that the metals and electronics recycler's shares were upgraded to an outperform rating by Macquarie this morning. Macquarie has a $15.40 price target on Sims Metal Management's shares.
