It has been a disappointing day of trade for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). At the time of writing the index has followed the lead of U.S. markets and dropped 0.35% to 6,195.8 points.
Four shares that have fallen more than most today are listed below. Here's why they have dropped lower:
The Amaysim Australia Ltd (ASX: AYS) share price has continued its slide and is down a further 5.5% to 66 cents. The Amaysim share price has come under significant selling pressure since it announced an underwritten capital raising aiming to raise approximately $50.6 million at a discount of $0.60 per share. The telco company's shares have now fallen 22% since announcing the capital raising.
The FlexiGroup Limited (ASX: FXL) share price is down 4.5% to $1.58 despite there being no news of the financial services company. However, prior to today FlexiGroup's shares had risen almost 51% in the space of just two weeks. I suspect that a touch of market weakness today has led to some investors taking a bit of profit off the table after this stellar run.
The NEXTDC Ltd (ASX: NXT) share price is down 3% to $6.23. NEXTDC's shares have come under pressure since the release of its half year results last week. One broker that didn't like what it saw was Deutsche Bank. According to a note out of the investment bank, its analysts have downgraded the data centre operator's shares to a sell rating with a $5.50 price target.
The Orocobre Limited (ASX: ORE) share price has tumbled 5% to $3.64. The lithium miner's shares appear to have been caught up in a broad battery ingredients sell off today. Graphite miners, lithium miners, and nickel miners have all fallen heavily. Despite this decline, Orocobre's shares have risen a solid 22% over the last couple of weeks.
