Why Creso Pharma, Hansen, Life360, and Serko shares are falling

These ASX shares are out of form on Thursday…
The post Why Creso Pharma, Hansen, Life360, and Serko shares are falling appeared first on The Motley Fool Australia. –

In late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day with a small gain. The benchmark index is currently up 0.1% to 7,405.1 points.

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

Creso Pharma Ltd (ASX: CPH)

The Creso Pharma share price is down 4% to 9.6 cents. This morning the cannabis company revealed that it was served with a notice by ASIC requiring it to produce certain documents in connection with an investigation. This “includes suspected contraventions by the Company, its officers, agents, employees and representatives in relation to trading in its securities.”

Hansen Technologies Limited (ASX: HSN)

The Hansen share price is down 4% to $5.73. This follows the release of the billing technology company’s annual general meeting update. That update reveals that the company is on track for a marginal improvement in operating revenue in FY 2022 excluding the Telefonica contract.

Life360 Inc (ASX: 360)

The Life360 share price is down 9% to $12.30 following the completion of the institutional component of its fully underwritten A$280 million capital raising. Life360 raised the funds at $12.00 per new share, which represents an 11.1% discount to its last close price. These funds are to be used to acquire items tracking company Tile for a purchase price of up to US$205 million. Management notes that the combination of Life360 and Tile creates an integrated market leader in location solutions for all life stages. This enables a seamless experience for families that integrates people, pets and things.

Serko Ltd (ASX: SKO)

The Serko share price is down 11.5% to $6.56. This follows the completion of the travel booking technology company’s NZ$75 million placement. According to the release, the placement was fully subscribed at NZ$7.05 per share, representing a 10.2% discount to its last close price. These funds will be used to support the company’s growth. This includes its global marketplace strategy, which is aiming to transform Serko from an online booking tool into a distributed marketplace.

The post Why Creso Pharma, Hansen, Life360, and Serko 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

Creso Pharma (ASX:CPH) share price down 7% as chair stands aside amid ASIC probe

Here’s why the Serko (ASX:SKO) share price is crashing 10% lower today

Why the Life360 (ASX:360) share price is sinking 9% today

Serko (ASX:SKO) share price halted amid H1 FY22 results and cap raise

Top brokers name 3 ASX shares to buy today

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 Hansen Technologies, Life360, Inc., and Serko Ltd. The Motley Fool Australia has recommended Serko 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!