Why Nanosonics, WiseTech, and Zip shares are dropping

These ASX shares are ending the week in the red…

| More on:
ASX shares downgrade A young woman with tattoos puts both thumbs down and scrunches her face with the bad news.

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 currently on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.2% to 7,395.5 points.

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

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 5.5% to $5.76 following the release of its annual general meeting update. At the meeting, management spoke positively about the future and guided to double digit revenue growth in FY 2022. However, it appears as though investors were disappointed that Nanosonics didn't reveal any new products at the event.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is down 3% to $57.14. This logistics solutions company also held its annual general meeting today. At the event, management reaffirmed its guidance for FY 2022. It continues to expect revenue of $600 million to $635 million and EBITDA of $260 million to $285 million in FY 2022. This represents growth of 18% to 25% and 26% to 38%, respectively. It appears the market was expecting a guidance upgrade.

Zip Co Ltd (ASX: Z1P)

The Zip share price has fallen 3% to $5.72. A number of buy now pay later providers are falling today. This could be due to reports in the United States which suggest that fraud is rising in the industry. An investigation apparently shows that criminals are exploiting weaknesses in the application process for BNPL loans and stealing items. Investors may be worried what impact this will have on margins.

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. owns shares of and has recommended Nanosonics Limited, WiseTech Global, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited and WiseTech Global. 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 worried man holds his head and look at his computer.
Share Fallers

Why Graincorp, Light & Wonder, Orica, and Wildcat shares are falling today

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

Read more »

A man with his back to the camera holds his hands to his head as he looks to a jagged red line trending sharply downward representing the ASX tech share sell-off today
Share Fallers

Why Insignia, Light & Wonder, Mineral Resources, and Nuix shares are sinking today

These shares are having a difficult time on hump day. 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 Endeavour, Global Data Centre, OFX, and Paladin Energy shares are dropping today

Why are these shares under pressure today? Let's find out.

Read more »

A man sits wide-eyed at a desk with a laptop open and holds one hand to his forehead with an extremely worried look on his face as he reads news of the Bitcoin price falling today on his mobile phone
Share Fallers

ASX 200 uranium stock alert: Paladin Energy shares just crashed 29%!

Paladin Energy shares are under intense selling pressure on Tuesday.

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Champion Iron, Endeavour, Infomedia, and Resolute Mining shares are sinking today

These shares are starting the week in the red. 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 Arcadium Lithium, Block, Jumbo, and Mineral Resources shares

These shares are ending the week in the red. Why are investors selling them?

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 Clearview, NAB, Resolute Mining, and Westpac shares are dropping today

These shares are under pressure today. But why?

Read more »

A man looking at his laptop and thinking.
Bank Shares

Why is the Bendigo Bank share price tanking today?

There are a few things that could be driving this bank lower today.

Read more »