Why 5G Networks, Cedar Woods, SEEK, & Tyro shares tumbled lower today

Here's why SEEK Limited (ASX:SEK), Tyro Payments Ltd (ASX:TYR), and these ASX shares tumbled lower on the ASX today…

| More on:

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

It was a great start to the week for the S&P/ASX 200 Index (ASX: XJO) on Monday. The benchmark index was back in form and rose 0.4% to 5,951.3 points.

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

5G Networks Ltd (ASX: 5GN)

The 5G Networks share price dropped 4.5% to $1.58 following the release of its first quarter update. According to the release, the telecommunications company delivered strong cash receipts of $14.3 million, which was an increase of 14% on previous quarter. Offsetting this was news that Keybridge Capital has applied to the Takeovers Panel seeking a review of its acquisition of Webcentral Group Limited (ASX: WCG).

Cedar Woods Properties Limited (ASX: CWP)

The Cedar Woods Properties share price fell 2.5% to $5.59. This afternoon the property company released its first quarter operational update. That update revealed that pre-sales are at $454 million in FY 2021. This is up 11% on the $409 million reported at the same time last year. Management advised that approximately 60% of pre-sales are expected to settle in FY 2021, with the balance contributing to earnings in FY 2022 and FY 2023.

SEEK Limited (ASX: SEK)

The SEEK share price slid 1% to $21.33 after responding to a short seller attack. SEEK advised that its Zhaopin business strives to be an industry leader in dealing with fake ads and candidate CVs, which do occur on all job listings websites globally. It feels the allegations are greatly exaggerated and misleading. It also defended its cash flows and pointed out that it has a long track record of generating strong operating cash flows.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price dropped 3% to $3.58. This is despite the release of a trading update this morning which revealed transaction value of $1.911 billion in October. This was up 9% on the prior corresponding period. I suspect this was offset by general weakness in the tech sector following a selloff on the Nasdaq on Friday night.

Should you invest $1,000 in Altium right now?

Before you buy Altium shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Altium wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Tyro Payments. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends 5G NETWORK FPO. The Motley Fool Australia has recommended SEEK Limited. 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

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Healius, Light & Wonder, REA Group, and Regis Resources shares are falling today

These shares are ending the week in the red. Let's find out why.

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 ANZ, Brainchip, Light & Wonder, and Pilbara Minerals shares are falling today

These shares are tumbling on Thursday. 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 Aurizon, JB Hi-FI, Nuix, and Platinum shares are tumbling today

These shares are falling on hump day. But why?

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 HMC Capital, Platinum, Sigma, and Skycity shares are dropping today

These shares are having a tough session on Tuesday. But why?

Read more »

Oil worker using a smartphone in front of an oil rig.
Energy Shares

ASX 200 energy shares plunge on shock OPEC move

ASX 200 energy shares like Woodside and Santos are tumbling on Monday. Let’s find out why.

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Brainchip, Helia Group, Reliance Worldwide, and Westpac shares are dropping today

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

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Block, Corporate Travel Management, Judo, and Zip shares are sinking today

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

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

These were the worst-performing ASX 200 shares in April

These shares were out of form last month. But why?

Read more »