The S & P / ASX 200 index (ASX: XJO) is out of shape on Wednesday and is sinking lower. In the afternoon session, the benchmark index fell by a disappointing 0.75% to 6,775.9 points.
Below are four ASX stocks that are falling more than most today. Here’s why these stocks are falling:
Corporate Travel Management Ltd. (ASX: CTD)
Corporate Travel Management’s share price fell 5.5% to $ 21.00. Investors subsequently sold the business travel booker’s shares The CEO sold shares valued at $ 31.5 million. Although no explanation was given for the sale, the company notes that Jamie Pherous remains the largest shareholder with a 14.1% stake.
The IGO share price is down 2% to $ 6.36. Investors sold the nickel producer’s shares following the release of its annual mineral resource and ore reserve update. IGO announced that its total attributable mineral resources from the Nova and Tropicana activities are estimated at 208 kt nickel, 84 kt copper, 7 kt cobalt and 2.3 million ounces gold.
The Limeade share price continues to be sold by investors and has fallen 6.5% to 83.2 cents. This recent decline means the shares of Employee Experience Software company are down over 60% from their 52-week high. A disappointing result for the 2020 financial year and an overwhelming forecast for the coming year weighed on the share. There has been a large number of shares lately from the escrow account.
The price of the ResApp share fell by 6.5% to 7.3 cents. This appears to be due to profit taking by investors after some strong gains in recent trading sessions. In fact, before today’s Thursday, ResApp stock was up an impressive 34%. A couple of positive announcements released this week were behind this strong gain.
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James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns shares in Limeade, Inc. Motley Fool Australia owns and has recommended shares in Corporate Travel Management Limited. The motley fool has one Confidentiality Policy. This article contains only general investment recommendations (under AFSL 400691). Authorized by Bruce Jackson.
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