Insights

Why Orocobre, Ramsay, Webjet, & Xero shares are dropping lower

Ramsay Health Care Limited (ASX:RHC) and Webjet Limited (ASX:WEB) shares are two of four dropping notably lower on Friday…
The post Why Orocobre, Ramsay, Webjet, & Xero shares are dropping lower appeared first on Motley Fool Australia. –

graph of paper plane trending down

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end a very positive week on a disappointing note. The benchmark index is down 0.55% to 6,382.5 points.

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

Orocobre Limited (ASX: ORE)

The Orocobre share price is down 2% to $2.96. This follows the release of its annual general meeting update this morning. At the meeting the company spoke about its tough time in FY 2020 due to difficult lithium market conditions. It notes that COVID-19 made the situation worse with lithium supply remaining resilient while battery and electric vehicle (EV) manufacturing was reduced. Positively, management advised that it is now starting to see increased spot prices for lithium chemicals with increasing demand for EVs.

Ramsay Health Care Limited (ASX: RHC)

The Ramsay share price has fallen 2% to $66.75 following the release of its first quarter update. Although the private hospital operator revealed that its Australian operations delivered a 1.5% increase in revenue, its earnings have suffered. Management advised that its Australian earnings decline is due to restricted surgical activity in Victoria, increased costs, and reduced procurement benefits as a result of operating in a COVID safe environment.

Webjet Limited (ASX: WEB)

The Webjet share price has dropped 2.5% to $4.91. This appears to have been driven by profit taking after strong gains earlier this week amid the COVID-19 vaccine news. It is also worth noting that last week Morgan Stanley put a neutral rating and $3.40 price target on its shares. This is notably lower than where it shares trade at today.

Xero Limited (ASX: XRO)

The Xero share price is giving back some of yesterday’s gains and is down 2.5% to $120.43. This morning analysts at UBS retained their sell rating and lifted the price target on the company’s shares to $77.00. Although Xero delivered a stronger than expected half year result, it isn’t enough for the broker to change its view. It still feels its shares are expensive at the current level.

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 June 30th

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 Xero. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Orocobre, Ramsay, Webjet, & Xero shares are dropping lower appeared first on 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!