The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a third consecutive day in the red and is down 0.3% to 5,951 points in afternoon trade.
Four shares which have fallen more than most today are listed below. Here's why they have tumbled lower:
The Australian Agricultural Company Ltd (ASX: AAC) share price is down 10% to $1.40 after the cattle farmer reported a statutory half-year EBITDA loss of $36.5 million following a write down in the value of some of its cattle inventory. The company also saw its operating EBITDA margin fall to a disappointing 8.2% due to higher input costs.
The Bubs Australia Ltd (ASX: BUB) share price is down 8% to 79 cents. The baby food and goat's milk infant formula company's shares have now lost 22% of their value since this time last week. The catalyst for this was the sale of 6.8 million shares by one of its major shareholders.
The Healthscope Ltd (ASX: HSO) share price is down almost 3.5% to $1.81. Today's decline is likely to be attributable to a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the healthcare services company to a hold rating and cut its price target to $1.95 following the release of weak private hospital cover data.
The Pilbara Minerals Ltd (ASX: PLS) share price has plunged 6.5% to 94 cents despite there being no news out of the lithium miner. But with its shares more than doubling in value in the last three months, I suspect today's decline could be related to profit-taking from traders.
