Home Sports Why shares of Appen, Catapult, CSR and Select Harvests are falling

Why shares of Appen, Catapult, CSR and Select Harvests are falling

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In the afternoon trade, art S & P / ASX 200 index (ASX: XJO) intends to end the week on a very positive note. At the time of writing, the benchmark index has risen 1.1% to 7,184.7 points.

The four ASX stocks that failed to track the market above are listed below. Here’s why they fall:

Appen’s share price fell 22% to $ 6.47. Investors later sold Telus International’s shares of artificial intelligence data processing company withdrew its takeover offer. The proposal was withdrawn without comment, but it seems it was caused by a leaked proposal to the press. Apen said he did not know who traced the details of the proposal.

Catapult Group International Ltd (ASX: CAT)

Catapult’s share price fell another 6% to 96 cents. Investors have been selling shares of this sports technology company since the release of the disappointing the result for the whole year this week. Although Catapult reported an increase in annual contract value (ACV) of 19.7% to $ 63.9 million, its base EBITDA returned to a loss of $ 5.8 million from profit of $ 3.5 million in 2021.

CSR’s share price fell 4.5% to $ 4.68. Much of this decline was caused by shares of the construction products company trade without dividends this morning. Eligible shareholders can now expect to receive 18 cents per share of fully franked dividends on July 1.

Select Harvests Limited (ASX: SHV)

Shares of Select Harvests fell 6% to $ 5.60. This follows from the publication of the results of the almond grower for six months. While Select Harvests reported a significant increase in profits, it still declined significantly from 2020 levels. Select Harvests reported that net income for the first half of the year was $ 2 million, compared to $ 1.3 million in 2021, but down from $ 17.4 million in 2020.

https://www.fool.com.au/2022/05/27/why-appen-catapult-csr-and-select-harvests-shares-are-dropping/

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