Why a2 Milk, Atlas Arteria, Audio Pixels, & Nickel Mines shares are sinking

A2 Milk Company Ltd (ASX:A2M) and Nickel Mines Ltd (ASX:NIC) are two of four ASX shares sinking lower on Tuesday…

| More on:
Two men react in shock at Evolution share price drop record profit

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

The S&P/ASX 200 Index (ASX: XJO) is on course to end the day with a decline. In afternoon trade, the benchmark index is down 0.3% to 7,023.3 points.

Four ASX shares that have fallen more than most are listed below. Here's why they are sinking:

A2 Milk Company Ltd (ASX: A2M)

The a2 Milk share price is down a further 3.5% to $6.91. Investors continue to sell this infant formula company's shares amid concerns that it will fall short of its downgraded guidance in FY 2021. This is due to signs of discounting by Australian retailers and weak prices on Chinese ecommerce platforms.

The Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price is down 2.5% to $5.96. This toll road operator's shares have come under pressure today after revealing that the Virginia State Corporation Commission (SCC) has rejected its request to increase tolls on the Dulles Greenway. Atlas was seeking a rise of 6% this year and 6.5% next year. However, the Virginia SCC will leave the price at $5.80 for the next two years.

Audio Pixels Holdings Ltd (ASX: AKP)

The Audio Pixels share price has sunk 11% to $23.00. This follows the release of the speaker development company's quarterly update. Within that update, Audio Pixels revealed that the semiconductor shortage had a dramatic impact on the packaging of its chips. This means the demonstration of its technology has been pushed back yet again until the end of the current quarter. Audio Pixels has been promising this technology for around 15 years now.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price has crashed 15% to $1.09 following the release of its quarterly update. For the three months ended 31 March, Nickel Mines reported quarterly production of 10,067.5 tonnes of nickel metal. This was down 12.7% from the December 2020 quarter. In addition, higher costs and lower sales volumes led to the company reporting a 29.2% decline in EBITDA to US$50.7 million.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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 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 »

a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.
Share Fallers

Why Adriatic Metals, Metcash, Paladin Energy, and Westgold shares are tumbling today

These shares are starting the week in the red. 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

Down 36% in 3 weeks, why is the Mineral Resources share price getting hammered again on Friday?

ASX investors are bidding down Mineral Resources shares again on Friday.

Read more »

plummeting gold share price
Share Fallers

Why this top ASX gold share is tumbling 11% today

The shine is off one of the market's largest gold miners.

Read more »