In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a gain. At the time of writing, the benchmark index is up 0.2% to 7,080.5 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are sinking:
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Airtasker Ltd (ASX: ART)
The Airtasker share price is down 3.5% to $1.33. This appears to have been driven by profit taking after a solid gain on Wednesday following the release of its third quarter update. That update revealed that the company has been performing stronger than expected since its IPO earlier this year. This led to Airtasker upgrading its guidance for FY 2021.
Ecofibre Ltd (ASX: EOF)
The Ecofibre share price has sunk 10.5% to 94.5 cents. This may be a delayed reaction to the hemp company's quarterly update earlier this week. Ecofibre reported quarterly revenue of $6.8 million, which was down 10% on the second quarter and 52% on the prior corresponding period. Hemp-based face mask sales boosted its performance a year ago.
Nuix Ltd (ASX: NXL)
The Nuix share price is down almost 6% to $4.02. This is despite there being no news out of the investigative analytics and intelligence software provider. However, investors have been selling the company's shares since the release of a trading update and guidance downgrade this month. Disappointingly, the Nuix share price hit a record low of $3.95 earlier in the day.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is down almost 4% to $39.87. Investors have been selling the retail conglomerate's shares following the release of its third quarter update. For the three months ended 31 March, Woolworths posted a 0.4% increase in group sales to $16,566 million. While this sales result was stronger than expected, the company's outlook for the fourth quarter appears to have spooked investors.
