Why Altium, BlueBet, Healius, & HUB24 shares are tumbling lower

In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course start the week with a gain. At the time…
The post Why Altium, BlueBet, Healius, & HUB24 shares are tumbling lower appeared first on The Motley Fool Australia. –

In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course start the week with a gain. At the time of writing, the benchmark index is up 0.3% to 7,512.3 points.

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

Altium Limited (ASX: ALU)

The Altium share price is down 14% to $29.93. This follows the release of the electronic design software company’s full year results. Investors have been selling Altium’s shares despite it achieving its full year revenue guidance with a 1% lift to US$191.1 million. It also upgraded its outlook for FY 2022 and now expects revenue growth of 16% to 20%. It has, however, pushed back its US$500 million revenue target by a year to FY 2026 due to COVID-19.

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price has tumbled 10% to $2.53. This morning the sports betting company revealed that it has missed out on a sports betting license. According to the release, BlueBet and its partner Colorado River Indian Tribes (CRIT) were overlooked for one of the 10 licences to operate an online sportsbook in the state of Arizona. Although it met the requirements of a qualified event wagering operator, it missed out after a competitive process which considered a range of factors.

Healius Ltd (ASX: HLS)

The Healius share price is down 7% to $4.68. Investors have been selling the healthcare company’s shares after the release of a very strong (but not quite strong enough) full year result. In FY 2021, Healius doubled its underlying EBIT to $266.5 million. This was 3.5% short of the analyst consensus estimate of $276 million. COVID-19 testing was a key driver of its growth.

HUB24 Ltd (ASX: HUB)

The HUB24 share price has dropped 6% to $29.71. This decline appears to have been driven by news that the investment platform provider’s chairman has been selling shares. According to a change of director’s interests notice, Chairman Bruce Higgins sold a total of 269,700 shares for approximately $8.1 million last week.

The post Why Altium, BlueBet, Healius, & HUB24 shares are tumbling lower 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

HUB24 (ASX:HUB) share price falls 8% after $8.1m share sale by chairman
Which ASX companies are starting off the week as the top movers in the ASX 300 today?

Altium (ASX:ALU) share price down 12% after earnings report
ASX 200 midday update: Fortescue result and dividend impress, Altium sinks

Why the BlueBet (ASX:BBT) share price is crashing 13% lower 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. owns shares of and has recommended Altium and Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool Australia has recommended BlueBet Holdings Ltd and Hub24 Ltd. 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!