Why Emerge Gaming, Imugene, Mesoblast, & Nick Scali shares are dropping

These ASX shares are out of form on Thursday…

| More on:
white arrow pointing down

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 record a small gain. At the time of writing, the benchmark index is up 0.2% to 7,516.2 points.

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

Emerge Gaming Ltd (ASX: EM1)

The Emerge Gaming share price has sunk 6% to 3.2 cents. This follows the embattled gaming company's response to a series of questions by the Australian share market operator. In fact, the regulator sought answers for 14 questions. These were largely in relation to questionable statements included in recent announcements.

Imugene Limited (ASX: IMU)

The Imugene share price is down 3.5% to 28.5 cents. Investors have been selling the clinical stage immuno-oncology company's shares despite it announcing an exclusive strategic partnership with Nasdaq-listed clinical-stage biotechnology company, Celularity. The two companies will work together to develop off-the-shelf placental-derived allogeneic therapies for the treatment of solid tumours.

Mesoblast limited (ASX: MSB)

The Mesoblast share price is down 3% to $1.96. This appears to have been driven by concerns over its cash burn. Research done by Ownership Matters, reported in the AFR, estimates that Mesoblast is close to recording $1 billion in cash outflows over the last decade. This has been spent on product development with little success to date.

Nick Scali Limited (ASX: NCK)

The Nick Scali share price has fallen 1% to $12.20. This furniture retailer's shares have been bouncing around today following the release of its full year results. After initially hitting a record high, the company's shares began to tumble. This was possibly due to concerns over its soft start to FY 2022 because of lockdowns. It was for this reason that management was unable to provide guidance for the year ahead.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Market News

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

Broker looking at the share price.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

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

Read more »

A smiling woman at a hardware shop selects paint colours from a wall display.
Broker Notes

After its strategy day, what does Macquarie think Wesfarmers shares are worth?

Let's see what the broker is saying about this blue chip.

Read more »