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Money Why these 4 ASX shares sank like stones today

01:18  12 january  2018
01:18  12 january  2018 Source:   fool.com

Uber ex-CEO Kalanick selling nearly a third of stake for $1.4 billion: source

  Uber ex-CEO Kalanick selling nearly a third of stake for $1.4 billion: source Kalanick's sale is part of a deal struck by a consortium led by SoftBank Group Corp which is taking a 17.5 percent stake in Uber, mostly by buying shares from early investors and employees. SoftBank last week secured agreements from shareholders who were willing to sell, and the deal will close early this year, Uber said.The SoftBank deal values Uber at $48 billion, about a 30 percent discount from its most recent valuation of $68 billion. However, the investor consortium is also making a $1.25 billion investment of fresh funding at the older, higher valuation.

Four shares falling more than most today are listed below. Here’s why they have sunk like stones : The Auscann Group Holdings Ltd ( ASX : AC8) share price is down a further 10% to .46.

Unfortunately not all shares have followed the market higher today . Here’s why these four shares have sunk like stones : The Healthscope Ltd ( ASX : HSO) share price has continued its decline and fallen a further 5% to .75.

  Why these 4 ASX shares sank like stones today © AAP Images It has been another disappointing day for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Thursday. In afternoon trade the index is down 0.5% to 6,064 points.

Four shares falling more than most today are listed below. Here’s why they have sunk like stones:

Quotes in the article

Galaxy Resources Ltd

GALXF

At least eight migrants drown off the coast of Libya

  At least eight migrants drown off the coast of Libya The death toll is expected to rise.Dramatic video released by the Italian Coastguard shows dozens of migrants being rescued, but as Channel Four reports, they're still searching for any more survivors.

Here’s why they have sunk like stones The Fletcher Building Limited (Australia) ( ASX : FBU) share price has declined 4 % to .29. Today ’s drop means the construction giant’s shares have now fallen over 13% this week.

Four shares which have acted as a drag on the market today are listed below. Here’s why they have sunk like stones : The Bubs Australia Ltd ( ASX : BUB) share price But with its shares up over 120% since this time last month, I wouldn’t be surprised if this decline relates to profit taking from day traders.

3.15
-0.34
-9.74%

The Auscann Group Holdings Ltd(ASX: AC8) share price is down a further 10% to $1.46. Traders appear to be taking profit after pot stocks rocketed higher following changes to medicinal cannabis export regulations by the Federal Government. AusCann’s shares are still up 78% year-to-date even after two consecutive days of heavy declines.

The Blackmores Limited(ASX: BKL) share price has fallen almost 6% to $153.75 despite there being no news out of the health supplements company or broker notes that I am aware of. While the sell-off is disappointing for existing shareholders, I think it could be an opportunity for non-shareholders to get hold of its shares at a fairer price.

The Carsales.Com Ltd(ASX: CAR) share price is down 5% to $14.27 following the release of a negative broker note out of Credit Suisse. According to the note, the broker has downgraded Carsales.com’s shares to an underperform rating from neutral. Last month UBS also downgraded the car listings company’s shares to a sell rating amid concerns that too much growth had been baked into its share price.

Manchester City's Aguero heads last-gasp winner in League Cup semi first leg

  Manchester City's Aguero heads last-gasp winner in League Cup semi first leg Manchester City forward Sergio Aguero's last-gasp header secured a 2-1 victory over Bristol City in their League Cup semi-final first leg on Tuesday after the second-tier side had frustrated the Premier League leaders. © REUTERS Carabao Cup Semi Final First Leg - Manchester City vs Bristol City City, who have dished out a string of maulings in a stellar league campaign, found the Championship side a tough nut to crack and had to wait until the 92nd minute to grab the winner when Argentine substitute Aguero darted in to head home.

Four shares that have weighed heavily on the market today are listed below. Here’s why they have sunk like stones : The Afterpay Touch Group Ltd ( ASX : APT) share price has fallen almost 7% to .60 despite the release of a company update this morning.

The A2 Milk Company Ltd ( ASX :A2M) share price is one of four sinking like stones today . Here's why

The Galaxy Resources Limited(ASX: GXY) share price has plunged over 7% to $4.13. The majority of the lithium miners have sunk lower today as traders take profit off the table. Prior to today Galaxy Resources’ shares had gained over 30% in the space of just one month. I think the lithium miner is a great long-term investment option, but I would hold off an investment until things settle.

Australian dollar hits US80c, Dow Jones breaks above 26,000 record .
Amid a record-breaking session on Wall Street, the Australian dollar has hit a four-month high ahead of today's unemployment figures.The Australian dollar hit a four-month high of 80.22 US cents at 6.30am AEDT.

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