Insights

Why AUB, Block, BrainChip, and Pushpay shares are sinking

These ASX shares are sinking on Tuesday…
The post Why AUB, Block, BrainChip, and Pushpay shares are sinking appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has recovered from its intraday lows but remains on course to record yet another sizeable decline. At the time of writing, the benchmark index is down 1.1% to 7,038.1 points.

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

AUB Group Ltd (ASX: AUB)

The AUB share price is down 11.5% to $19.53. This morning the insurance broker announced the successful completion of the institutional component of its $350m capital raising. These funds were raised at $19.50 per new share, which represented an 11.6% discount to its last close price. The proceeds will be used to fund the acquisition of Tysers for $880 million.

Block Inc (ASX: SQ2)

The Block share price is down 8.5% to $122.71. This follows an even greater decline by the payments giant’s NYSE listed shares during overnight trade on Wall Street. Investors were selling Block’s shares amid weakness in the tech sector, a significant drop in the bitcoin price, and the release of several less-than-bullish broker notes.

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is down 13% to $1.05. Investors have been selling this artificial intelligence technology company’s shares despite there being no news out of it. However, its shares did surge higher yesterday amid excitement over an unannounced partnership with Arm. This may have led to some traders taking profit today.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price is down 4.5% to $1.20. This decline may have been driven by investor nerves ahead of the payments company’s full-year results release tomorrow. Pushpay’s results have been a touch underwhelming over the last 18 months, putting significant pressure on its shares. Some investors may be fearing tomorrow’s will be the same.

The post Why AUB, Block, BrainChip, and Pushpay shares are sinking 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 over ten 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 January 12th 2022

More reading

ASX 200 tech shares are staging a remarkable recovery today
Why did the BrainChip share price just crash 17%?
Here’s why the AUB share price is tumbling 16% today
Technophobia? Why ASX 200 tech shares are getting hammered again
Why is the Block share price plunging 11% on Tuesday?

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 positions in and has recommended Block, Inc. and PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended Block, Inc. and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Austbrokers Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!