Insights

Why Coles, Netwealth, Pro Medicus, & Zip shares are sinking

Coles Group Ltd (ASX:COL) and Zip Co Ltd (ASX:Z1P) shares are two of four sinking notably lower today. Here’s why….
The post Why Coles, Netwealth, Pro Medicus, & Zip shares are sinking appeared first on The Motley Fool Australia. –

a trader on the stock exchange holds his head in his hands, indicating a share price drop

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end its winning streak with a disappointing decline. At the time of writing, the benchmark index is down 0.65% to 6,873.2 points.

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

Coles Group Ltd (ASX: COL)

The Coles share price is down almost 6% to $17.15. This follows the release of its half year results this morning. Although Coles delivered a profit result ahead of expectations, investors appear concerned by management’s comments on its outlook. The supermarket giant’s CEO, Steven Cain, warned: “Depending on COVID-19, vaccine roll out and efficacy, and other factors, sales in the supermarket sector may moderate significantly or even decline in the second half of FY21 and into FY22.”

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is down 4.5% to $17.13. This is despite the investment platform provider delivering strong growth during the first half. For the six months ended 31 December, the company recorded a 30.1% increase in EBITDA to $40.5 million. This was driven by strong growth in Netwealth’s funds under administration over the last 12 months.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is down 2.5% to $44.46. This is quite a turnaround for the health imaging company’s shares. At one stage, the Pro Medicus share price had fallen 17% following the release of its half year results. Investors may have been disappointed that its revenue and profits fell a touch short of expectations during the half.

Zip Co Ltd (ASX: Z1P)

The Zip share price has crashed 14% lower to $11.97. This appears to have been driven by profit taking after some incredible gains in recent weeks. As I mentioned here earlier, the Zip share price was up an incredible 143% in the space of just one month. Given these strong gains and the general weakness in the tech sector today, Zip’s decline isn’t overly surprising.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

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 recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Netwealth. The Motley Fool Australia has recommended Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Coles, Netwealth, Pro Medicus, & Zip shares are sinking appeared first on The Motley Fool Australia.

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!