Insights

Why Bravura, Nine, Reece, & Zip shares are sinking today

It hasn’t been a good day for these ASX shares…
The post Why Bravura, Nine, Reece, & Zip shares are sinking today appeared first on The Motley Fool Australia. –

In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 7,520.4 points.

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

Bravura Solutions Ltd (ASX: BVS)

The Bravura share price has crashed 17% to $3.13 following the release of its full year results. In FY 2021, the financial technology company reported an 11% decline in revenue to $243 million and a 14% reduction in net profit after tax to $34.6 million. The latter was at the low end of its guidance range. However, the main drag on its shares appears to be the shock departure of its CEO Tony Klim. He will leave the business next week after 13 years.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The Nine share price has fallen 9% to $2.70. This was despite the media company reporting a 76% increase in net profit after tax to $2278 million for FY 2021. As strong as this was, it was slightly lower than expectations. Also weighing on its shares was management’s operating expense guidance for FY 2022.

Reece Ltd (ASX: REH)

The Reece share price has crashed 11% to $22.32. This follows the release of the plumbing parts company’s full year results after the market close on Tuesday. While that result was in line with the market’s expectations, management’s uncertain outlook is weighing on its shares. Particularly given the lofty multiples they trade on.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down 3% to $7.11. This morning Zip released its full year results and reported a 150% increase in revenue to $403.2 million. This was driven by a 178.5% jump in transaction volume to $5.8 billion, which was underpinned by a 247.5% increase in customer numbers to 7.3 million. The company also revealed that so far in FY 2022 total transaction value was up 58% in Australia and 240% in the United States. As positive as this was, its increasing costs appears to have spooked investors.

The post Why Bravura, Nine, Reece, & Zip shares are sinking today 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

The Reece (ASX:REH) share price is down 12% after yesterday’s FY21 earnings
Which ASX 300 shares are the biggest winners and losers today?

ASX 200 midday update: WiseTech rockets, Afterpay & Zip report

Zip (ASX:Z1P) share price sinks despite 150% increase in revenue
Bravura Solutions (ASX:BVS) share price plunges 17% on FY21 earnings

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 Bravura Solutions Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Bravura Solutions 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!