Business
Why Advance NanoTek, Incitec Pivot, Starpharma, & Zoono are tumbling lower
The S&P/ASX 200 Index (ASX: XJO) has started the week strongly and is racing higher. In afternoon trade, the benchmark index is up 0.9% to 6,868.2 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:
The Advance NanoTek share price is down 4% to $3.72. This is despite there being no news out of the advanced materials company. However, the company has been struggling recently due to a collapse in demand for its products from sunscreen manufacturers. As a result, it is expecting to report a $90,000 first half profit. This compares to $4.8 million in the prior corresponding period.
The Incitec Pivot share price is down 2.5% to $2.57. Investors have been…
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