Why AMA, Bellevue Gold, Bendigo Bank, & BlueBet shares are falling

These ASX shares are ending the week in the red…
The post Why AMA, Bellevue Gold, Bendigo Bank, & BlueBet shares are falling appeared first on The Motley Fool Australia. –

In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week with a decent gain. At the time of writing, the benchmark index is up 0.5% to 7,522.4 points.

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

AMA Group Ltd (ASX: AMA)

The AMA share price is down almost 7% to 41.5 cents. This morning the crash repair company hit back at media reports suggesting it may need to raise funds to improve its precarious capital position. Management reiterated that its banking syndicate remain supportive of the company and that it is confident its capital structure review will yield a positive outcome.

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price has fallen 8.5% to 85.5 cents. This morning the gold explorer announced that it has received firm commitments to raise $106 million via an institutional placement at 85 cents per share. This represents a 9.9% discount to its last close price. Combined with its $200 million debt facility, Bellevue Gold is now fully funded to production.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The Bendigo and Adelaide Bank share price is down 1.5% to $9.94. Today’s decline has been driven by the regional bank’s shares going ex-dividend this morning for its final dividend. Eligible shareholders can now look forward to receiving the fully franked 26.5 cents per share final dividend on 30 September.

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price is down 5.5% to $2.43. This is despite there being no news out of the sports betting company on Friday. However, with its shares up 30% in the space of a month prior to today, this decline could have been driven by profit taking from some investors.

The post Why AMA, Bellevue Gold, Bendigo Bank, & BlueBet shares are falling 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

ASX 200 midday update: TechnologyOne hits record high, lithium miners rise

AMA Group (ASX:AMA) share price drops 6% following media criticism
Bellevue Gold (ASX:BGL) share price dives 8% after successful $106 million placement
5 things to watch on the ASX 200 on Friday

Why the Bellevue Gold (ASX:BGL) share price is in a trading halt

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 recommended BlueBet Holdings 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!