Why Afterpay, Northern Star, REX, & Superloop shares tumbled lower today

The Afterpay Touch Group Ltd (ASX:APT) share price and the Superloop Ltd (ASX:SLC) share price are two of four tumbling notably lower on Monday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 index has had a positive start to the new financial year. At the time of writing the benchmark index is 0.4% higher to 6,647.3 points.

Four shares that have failed to follow the market higher today are listed below. Here's why they have tumbled lower:

The Afterpay Touch Group Ltd (ASX: APT) share price is down almost 4% to $24.11 amid concerns that Visa could disrupt its business model. At the end of last week the payments giant announced the start of a pilot program that will allow participating issuers and merchants to offer their customers an instalment payment option at the checkout by using a Visa card. At one stage today the Afterpay share price fell as much as 10%.

The Northern Star Resources Ltd (ASX: NST) share price is down over 4% to $11.15. Northern Star and the rest of the gold miners have come under pressure today after improving investor sentiment led to a decline in demand for risk-off assets. In afternoon trade the S&P/ASX All Ords Gold index has fallen almost 3%.

The Regional Express Holdings Ltd (ASX: REX) share price has hit a spot of turbulence and is down over 7% to $1.31. Investors have been hitting the sell button after the airline was accused of having a poor safety culture by a disgruntled engineer. The company has labelled the accusations "baseless" and stressed that its safety culture is second to none.

The Superloop Ltd (ASX: SLC) share price is down almost 10% to $1.39 after the fibre-optic internet infrastructure company downgraded its full year EBITDA guidance significantly. According to the release, Superloop now expects full year EBITDA to be between $7 million and $8 million in FY 2019, compared to its prior guidance of between $13 million and $18 million. The downgrade has been blamed on delays to a major commercial agreement being signed.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of SUPERLOOP FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended SUPERLOOP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

Why Domino's, Lynas, Paladin Energy, and St Barbara shares are sinking today

These shares are having a tough session. What's going on?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Amcor, Boss Energy, Brickworks, and Mineral Resources shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

Person with thumbs down and a red sad face poster covering the face.
Share Fallers

The worst 3 ASX 200 stocks to buy and hold in October unmasked

You would have done well to avoid these three ASX 200 stocks in October.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why AFT, Amcor, Corporate Travel, and Macquarie shares are falling today

These shares are ending the week in the red. But why?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why AGL, Imugene, Star, and Woolworths shares are dropping today

These shares are dropping on Thursday. Let's see why investors are selling them.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Fallers

Why Corporate Travel Management, JB Hi-Fi, Mineral Resources, and Syrah shares are rising

These shares are having a strong session. Why are investors buying their shares?

Read more »

A guys points his fingers down.
Share Fallers

Why Brainchip, Cettire, Star, and Woolworths shares are being sold off today

These shares are having a difficult time on hump day. But why?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Black Cat, BlueScope, Cettire, and Coronado shares are falling today

These shares are missing out on the good times on Tuesday. But why?

Read more »