Business
Why AGL, Bubs, Harvey Norman, & Openpay are tumbling lower
In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is well and truly back on form and surging higher. The benchmark index is currently up 1.65% to 6,848.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:
The AGL share price is down almost 1.5% to $9.68. Investors have been selling the energy company’s shares after analysts suggested its plan to split into two might not be a good move. Goldman Sachs named seven concerns it has with the proposal this morning. Elsewhere, Ord Minnett responded by downgrading its shares to a hold rating and slashing its price target by 22% to $11.00.
The Bubs share price is down a further 2% to 48 cents. Investors have…
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