In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its positive run and pushed higher again. At the time of writing the benchmark index is up 0.3% to 5,897.8 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 Kogan.com Ltd (ASX: KGN) share price has dropped 7% to $4.25 despite there being no news out of the ecommerce company. I suspect that today's decline could have been caused by profit taking. After all, Kogan's shares rallied an incredible 40% last week thanks to the release of a positive trading update.
The Pro Medicus Limited (ASX: PME) share price is down 4% to $13.05. Once again this decline appears to have been caused by profit taking following a strong rally over the last few weeks. Prior to today the healthcare technology company's shares were up over 21% in the space of a month thanks to the announcement of a new deal with a German government hospital in December.
The St Barbara Ltd (ASX: SBM) share price has fallen 3.5% to $4.62. Most of Australia's leading gold miners have continued to sink lower today after investors ditched safe haven assets due to speculation that the U.S. and China could be close to settling their trade war. The S&P/ASX All Ords Gold index is down 1.7% at the time of writing.
The Sims Metal Management Ltd (ASX: SGM) share price has plunged almost 17% lower to $9.12. Investors have been hitting the sell button in a panic today after the release of a disappointing profit update this morning. The scrap metal company revealed that it expects first half underlying earnings before interest and tax to be down 12% on the prior corresponding period to approximately $110 million due to challenging trading conditions.
