Why Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower

Macquarie Group Ltd (ASX:MQG) and Webjet Ltd (ASX:WEB) shares are two of four tumbling lower on Thursday…
The post Why Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower 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) is on course to end the shortened week with a small gain. At the time of writing, the benchmark index is up 0.2% to 6,805.7 points.

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

Computershare Ltd (ASX: CPU)

The Computershare share price is down 3% to $14.59. This is despite there being no news out of the share registry company. However, with its shares rising 14% in March, this decline could have been driven by profit taking by investors. The catalyst for the strong gain last month was the announcement of a major acquisition.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is down 1% to $151.28. This morning the Australian Prudential Regulatory Authority (APRA) revealed that it has increased the bank’s liquidity and operational risk capital requirements. The regulator made the move in response to multiple material breaches of APRA’s prudential and reporting standards.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price has sunk 10% to $3.32. Once again, this appears to have been driven by profit taking after some stellar gains in 2021. For example, prior to today, the specialty pharmaceutical company’s shares were up a remarkable 90% since the start of the year. A number of promising updates have caught the eye of investors this year.

Webjet Ltd (ASX: WEB)

The Webjet share price has fallen 5.5% to $5.27. Investors have been selling the online travel agent’s shares following the announcement of a convertible note offering to raise $250 million. The net proceeds from the offering are expected to be used to repay $43 million of Webjet’s existing term debt, fund potential acquisitions, and for capital management or general corporate purposes. Investors appear disappointed that the company is raising funds again.

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

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Webjet 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 Computershare, Macquarie, Race Oncology, & Webjet are tumbling lower 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!