Why BetMakers, Medical Development International, Qantas, & Zip are dropping lower

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end the week on a strong note. At the time of writing, the benchmark index is up 0.5% to 6,646.2 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are dropping lower:

BetMakers Technology Group Ltd (ASX: BET)

The BetMakers share price is down 10% to 64 cents. Investors have been selling the company’s shares after an update on its potential game-changing acquisition of assets from Sportech. This morning BetMakers revealed that Sportech has received a takeover offer from Standard General. It has granted Standard General due diligence in the hope of receiving a firm offer.

Medical Developments International Ltd