Why Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower

Macquarie Group Ltd (ASX:MQG) and Webjet Ltd (ASX:WEB) shares are two of four tumbling lower on Thursday…

| More on:
a trader on the stock exchange holds his head in his hands, indicating a share price drop

Image source: Getty Images

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 on course to end the shortened week with a small gain. At the time of writing, the benchmark index is up 0.2% to 6,805.7 points.

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

Computershare Ltd (ASX: CPU)

The Computershare share price is down 3% to $14.59. This is despite there being no news out of the share registry company. However, with its shares rising 14% in March, this decline could have been driven by profit taking by investors. The catalyst for the strong gain last month was the announcement of a major acquisition.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is down 1% to $151.28. This morning the Australian Prudential Regulatory Authority (APRA) revealed that it has increased the bank's liquidity and operational risk capital requirements. The regulator made the move in response to multiple material breaches of APRA's prudential and reporting standards.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price has sunk 10% to $3.32. Once again, this appears to have been driven by profit taking after some stellar gains in 2021. For example, prior to today, the specialty pharmaceutical company's shares were up a remarkable 90% since the start of the year. A number of promising updates have caught the eye of investors this year.

Webjet Ltd (ASX: WEB)

The Webjet share price has fallen 5.5% to $5.27. Investors have been selling the online travel agent's shares following the announcement of a convertible note offering to raise $250 million. The net proceeds from the offering are expected to be used to repay $43 million of Webjet's existing term debt, fund potential acquisitions, and for capital management or general corporate purposes. Investors appear disappointed that the company is raising funds again.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Webjet Ltd. 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 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 EML, GQG Partners, IGO, and Integrated Research shares are sinking today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of…

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Bellevue Gold, Mesoblast, Pilbara Minerals, and Wesfarmers shares are dropping today

These shares are ending the week deep in the red. What's going on?

Read more »

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

Why AGL, CBA, Deep Yellow, and Megaport shares are sinking today

These shares are falling more than most today. What's going on?

Read more »

A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price
BNPL shares

Why did the Zip share price just crash 9%?

Investors seem to be singling Zip out for punishment today...

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

Why Capricorn Metals, Insignia, Sayona Mining, and Southern Cross Gold shares are falling today

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

Read more »

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

Why Data#3, Elders, Karoon Energy, and Tyro shares are falling today

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

Read more »

A man in a suit looks sad as oil is spilled from a barrel.
Energy Shares

This $1 billion ASX 200 energy stock is diving 7%! Here's why

This ASX energy company is taking a beating on Tuesday. But why?

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why did the Appen share price crash 15% today?

Appen shares remain up more than 250% this year.

Read more »