The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from Friday's decline with a strong gain on Monday. In afternoon trade the benchmark index is up 0.6% to 6,026.1 points.
Four shares that have failed to follow the market higher today are listed below. Here's why they have started the week in the red:
The Autosports Group Ltd (ASX: ASG) share price is down 5% to $1.59 despite there being no news out of the car dealer group. Last week Autosports was tipped as a company that could struggle if house prices dropped meaningfully. UBS estimates that a 10% drop in house prices will lead to an ~8% decline in luxury car sales over a two-year period.
The Avz Minerals Ltd (ASX: AVZ) share price has continued its decline and is down 9% to 13.2 cents. This morning the lithium-focused mineral exploration company released further drill hole results from its Manono project. While those results continue to indicate that the company has a quality lithium asset on its hands, it appears they were not as strong as some had hoped. I'm not overly convinced about the viability of the project considering how far from the coast it is and how poor the infrastructure is in the Democratic Republic of the Congo.
The JB Hi-Fi Limited (ASX: JBH) share price has tumbled 4% to $23.23. Today's decline could be related to news that Kogan.com Ltd (ASX: KGN) intends to enter the whitegoods and built-in kitchen appliance market by the end of the year. Investors may be concerned that this move will put further pressure on JB Hi-Fi's margins. I would stay clear of JB Hi-Fi no matter how cheap it looks.
The Regis Healthcare Ltd (ASX: REG) share price is down over 4% to $3.64 after the aged care operator was the subject of a bearish broker note out of the Macquarie equities desk. According to the note, the broker has downgraded Regis to an underperform rating and cut the price target on its shares to $3.50.
