In afternoon trade the S&P/ASX 200 index has fought back from a heavy decline in morning trade but is still currently in the red. At the time of writing the benchmark index down 0.15% to 6,122.1 points.
Four shares that have fallen more than most today are listed below. Here's why they have dropped lower:
The Kogan.com Ltd (ASX: KGN) share price has dropped 3.5% to $3.45 despite there being no news out of the ecommerce company. This latest decline means that Kogan's shares have dropped a sizeable 21% since the release of its half year results in February. In the first half of FY 2019 Kogan posted net profit after tax of $7.4 million, which was down almost 11% on the prior corresponding period.
The Pro Medicus Limited (ASX: PME) share price has continued its slide and is down almost 8% to $14.90. This decline means that the healthcare technology company's shares have fallen almost 15% since this time last week despite there being no news out of it. I suspect this has been driven by profit taking from some shareholders. After all, despite these declines, Pro Medicus' shares are up 81% since this time last year.
The St Barbara Ltd (ASX: SBM) share price has fallen 3% to $3.41 following a drop in the gold price overnight after risk appetite grew and the U.S. dollar strengthened. St Barbara's shares have tumbled lower despite Deutsche Bank upgrading them to a buy rating from hold with a $3.80 price target.
The Tassal Group Limited (ASX: TGR) share price which has dropped 8% to $4.55 after the AFR reported that listeria was detected in its salmon when tested at a Queensland warehouse in February. Management didn't disclose the detection to shareholders as it didn't feel it was material. Tassal's CEO told the AFR: "We sell over 33,000 tonnes of product and 2 tonnes of product was not released."
