Why Avita Medical, Cettire, Domino's Pizza, and Star shares are falling today

These ASX shares are having a tough end to the week. But why?

| More on:
A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.

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 having a subdued finish to the week. In afternoon trade, the benchmark index is down 0.25% to 7,794.4 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

AVITA Medical Inc (ASX: AVH)

The AVITA Medical share price is down a further 14% to $3.41. Investors have been scrambling to the exits since the release of a first-quarter sales update from the regenerative medicine company on Thursday. That update reveals that management now expects commercial revenue to be in the range of US$11 million to US$11.3 million for the quarter. This compares to its previous guidance of US$14.8 million to US$15.6 million. The revision in guidance is attributable to a slower-than-expected conversion rate of new accounts for its expanded label of full-thickness skin defects.

Cettire Ltd (ASX: CTT)

The Cettire share price is down 4% to $3.22. This follows the release of the online luxury products retailer's third quarter update this morning. Initially, the market cheered on the update, sending Cettire's shares rocketing higher. However, it seems that eventually it started to focus less on its stunning sales growth and more on its softer earnings. Despite almost doubling its sales, Cettire's underlying EBITDA only came in at $6 million. This is significantly less than its quarterly average during the first half of FY 2024.

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is down 4% to $41.80. Investors have been selling the pizza chain operator's shares following the release of its strategy presentation. While Domino's laid out big plans for sustainable long-term growth, it seems that not everyone in the market is as confident as management. Domino's shares are now down approximately 30% since the start of the year.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is down 8% to 50.2 cents. This follows the release of a trading update from the struggling casino and resorts operator. Unfortunately for shareholders, the company reported net revenue of $419.2 million for the three months. This is down 4.6% from $439.5 million in the prior corresponding period. Management blamed the weakness on its Premium Gaming Rooms (PGRs) revenue, which was down sharply across all of its properties during the quarter. Also falling during the quarter were its earnings. Star's EBITDA was down 11.5% to $37.9 million for the period.

Motley Fool contributor James Mickleboro has positions in Domino's Pizza Enterprises. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Avita Medical and Domino's Pizza Enterprises. The Motley Fool Australia has recommended Avita Medical, Cettire, and Domino's Pizza Enterprises. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

Disappointed man with his head on his hand looking at a falling share price his a laptop.
Share Fallers

Why Iluka, Sigma, Wildcat, and Woodside shares are falling today

These shares are having a tough time on hump day. Why are investors hitting the sell button?

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 Australian Ethical, PYC, Resolute, and Star shares are falling 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 4DS, Lynas, REA Group, and Rio Tinto shares are dropping today

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

Read more »

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

Why Computershare, Ora Banda, Origin Energy, and Vulcan shares are falling today

These shares are missing out on the good times on Thursday. But why?

Read more »

Shot of a senior scientist looking stressed out while working in a lab.
Healthcare Shares

Why did this $1.4 billion ASX 200 healthcare stock just dive 9%?

The market didn't like what this stock had to say this morning...

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 CAR Group, Myer, Neuren, and Yancoal shares are falling today

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

Read more »

A male lion with a large mane sits atop a rocky mountain outcrop surveying the view, representing the outlook for the Liontown share price in FY23
Materials Shares

Liontown shares crashed 68% in 2024. Here's why

Investors sent Liontown shares tumbling in 2024.

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

Why Mesoblast, Myer, Premier Investments, and Vulcan shares are falling today

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

Read more »