The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has built on yesterday's gain with a 0.6% push higher to 6,079 points.
Four shares that have not been able to follow the market higher today are listed below. Here's why they have sunk lower:
The Bubs Australia Ltd (ASX: BUB) share price has fallen 6% to 93.5 cents despite there being no news out of the goat milk infant formula company. I suspect that today's decline could be a case of profit-taking ahead of tomorrow's half-year results release. Bubs' shares have risen sharply over the last week after an announcement of a major new distribution agreement with e-commerce giant JD.com. I would suggest investors resist buying the dip and wait for its results.
The Monash IVF Group Ltd (ASX: MVF) share price has fallen 3.5% to $1.18 a day after the release of a disappointing half-year result. The weak first-half led to analysts at Morgans downgrading the fertility company's shares from an add rating to hold. The broker also slashed its price target from $1.52 to $1.25. Although Monash IVF looks cheap, I am concerned that it could prove to be a value trap.
The Orocobre Limited (ASX: ORE) share price has plunged 5.5% lower to $6.57 after Morgan Stanley warned of a potential oversupply of the metal in the future. Morgan Stanley believes that increased production from projects in Argentina and Australia could add an additional 500,000 tonnes of supply to the market by 2025. At present annual supply stands at approximately 215,000 tonnes.
The Speedcast International Ltd (ASX: SDA) share price has fallen 6.5% to $5.21 following the release of its half-year results. Despite the provider of satellite-based communication networks and services more than doubling its underlying profits, investors appear to have been expecting more or a stronger full-year outlook. Whilst I was impressed with Speedcast's result, I think its shares are a little on the expensive side.
