Why AVITA, IDP Education, Over the Wire, & Viva Energy shares are dropping lower

The S&P/ASX 200 Index (ASX: XJO) has returned from the Christmas break in style and is storming higher. In late morning trade the benchmark index is up 0.65% to 6,708.7 points.

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

The AVITA share price is down 1% to $5.05. This regenerative medicine company’s shares have come under pressure this year for a couple of reasons. The first was the negative impact that COVID-19 has had on the company’s sales. The second was AVITA’s removal from the ASX 200 index at the most recent quarterly rebalance. This will have led to selling from index-tracking ETFs and fund managers.

The IDP Education share price has fallen…