The shares of Kidman Resources Ltd (ASX: KDR) and Bellamy's Australia Ltd (ASX: BAL) may have stormed to all-time highs this morning, but not all shares have been so lucky.
Three shares that have fallen to 52-week lows during trade on Monday are listed below. Here's why they are making new lows:
The 1300 Smiles Limited (ASX: ONT) share price fell to a 52-week low of $6.20 during morning trade after its shares went ex-dividend for the dental practice operator's interim 12 cents per share fully franked dividend. Prior to that, 1300 Smiles' shares had been on a poor run after general weakness in the dental industry weighed on investor sentiment. I thought 1300 Smiles' half-year result was solid despite the industry headwinds, which could make this a buying opportunity for patient investors.
The iSelect Ltd (ASX: ISU) share price has dropped to a two-year low of $1.02. Investors have been heading to the exits in their droves after the price comparison company's disappointing half-year results release. For the first half of FY 2018, iSelect reported net profit after tax of just $0.5 million compared to $2.6 million in the prior corresponding period. While management is positive on its second-half outlook, investors certainly don't appear to share this view. I would stay clear of iSelect.
The Monash IVF Group Ltd (ASX: MVF) share price made a 52-week low of $1.14 on Monday. Investors have been selling shares in the fertility treatment company after its performance continued to decline following the emergence of a low-cost competitor in Australia and the loss of a high-profile doctor. This is expected to lead to a 25% decline in full-year net profit after tax. I would stay well clear of Monash IVF and think there's a strong chance it will experience a similar decline in FY 2019.
