Insights

Why Adriatic Metals, Platinum, Redbubble, & Whitehaven Coal are dropping

These ASX shares are dropping on Thursday…
The post Why Adriatic Metals, Platinum, Redbubble, & Whitehaven Coal are dropping appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form and pushing notably higher. At the time of writing, the benchmark index is up 0.8% to 7,329.7 points.

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

Adriatic Metals (ASX: ADT)

The Adriatic Metals share price is down 16% to $2.80. This morning the base and precious metal explorer announced the completion of a US$52 million placement. These funds were raised at $2.81 per share, which represents a 15.6% discount to its last close price. The company also raised gross proceeds of US$50 million via a conditional equity subscription from Orion Partners.

Platinum Asset Management Ltd (ASX: PTM)

The Platinum share price is down 2% to $3.18. Investors have been selling this fund manager’s shares this week following another disappointing funds under management (FUM) update. Platinum reported net outflows of $292 million during September.

Redbubble Ltd (ASX: RBL)

The Redbubble share price has crashed over 13% lower to $3.96. This morning the ecommerce company released a first quarter update which revealed a sizeable decline in sales, revenue, and earnings. Redbubble reported a 21% decline in gross transaction value to $142 million and a 28% reduction in marketplace revenue to $106 million. This led to an 85% decline in first quarter EBITDA.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 2% to $3.23. This follows the release of the coal miner’s quarterly update this morning. For the three months ended 30 September, the miner’s total managed coal sales were down 23% to 4.6 million tonnes. Positively, though, this was offset by a significant increase in thermal and metallurgical coal realised prices during the quarter.

The post Why Adriatic Metals, Platinum, Redbubble, & Whitehaven Coal are dropping appeared first on The Motley Fool Australia.

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 more than eight 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. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Adriatic Metals (ASX:ADT) share price plunges 16% on Sandfire update
Whitehaven Coal (ASX:WHC) share price slumps despite positive profit outlook
Redbubble (ASX:RBL) share price on watch after first quarter update
Why I’d hold this coal-mining ASX share for 4 years: expert

Leading brokers name 3 ASX shares to sell today

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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!