Why Dacian Gold, Lovisa, MyFiziq, & Zip shares are dropping lower

Lovisa Holdings Ltd (ASX:LOV) and Zip Co Ltd (ASX:Z1P) shares are two of four dropping lower on Tuesday…

| 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

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is out of form and in the red. The benchmark index is currently down 0.3% to 6,665.2 points.

Four shares that have fallen more than most today are listed below. Here's why they are dropping lower:

Dacian Gold Ltd (ASX: DCN)

The Dacian Gold share price is down over 1% to 45.5 cents following the release of its quarterly update. The gold miner appears to have disappointed investors with its second quarter production of 27,162 ounces. This is down from 32,799 ounces in the first quarter. Though, despite this, Dacian remains on course to achieve its full year production guidance of 110,000 ounces to 120,000 ounces.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price has fallen 3.5% to $11.19. Investors have been selling the fashion jewellery retailer's shares after it revealed that its UK stores would be closing temporarily because of COVID-19. All 42 UK stores have been closed until further notice. All other stores and its online business remain open.

MyFiziq Ltd (ASX: MYQ)

The MyFiziq share price has fallen 3.5% to $1.23. This follows a subdued response by investors to the release of an announcement this morning in relation to a new app launch using its technology. The Biomorphik app is now available on both Google Play and Apple Store. It allows people to monitor their bodies closely and pre-empt potential issues before they become prohibitive to the user's health.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down 3.5% to $5.40. This is despite there being no news out of the buy now pay later (BNPL) provider today. However, it is worth noting that short interest is rising strongly. Short sellers appear to be going after the company due to rising competition in the key US market. This follows BNPL launches by giants such as Shopify and PayPal late last year.

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 ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

A bored woman looking at her computer, it's bad news.
Share Fallers

Why Brickworks, Nickel Industries, Polynovo, and Qantas shares are sinking today

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

Read more »

plummeting gold share price
Gold

This $3 billion ASX 200 gold stock just crashed 15%! Here's why

Investors are punishing the ASX 200 gold stock today. 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 Capricorn, CBA, Endeavour, and Polynovo shares are tumbling today

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

Read more »

Lines of codes and graphs in the background with woman looking at laptop trying to understand the data.
Share Fallers

Why Appen, Mesoblast, Rio Tinto, and Woodside shares are falling today

These shares are falling more than most on Thursday. But why?

Read more »

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

Why Coles, Ioneer, Treasury Wine, and Woolworths shares are falling today

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

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Healthco, Life360, Mineral Resources, and Origin Energy shares are sinking today

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

Read more »

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 Aurizon, Brainchip, Clarity, and Domino's shares tumbling today

These shares are under pressure on Monday. What's going on?

Read more »

A business woman looks unhappy while she flies a red flag at her laptop.
Share Fallers

These were the worst-performing ASX 200 shares in February 2025

These shares were sold off last month. Let's see what happened to them.

Read more »