Why ASX, Kogan, Myer, & Northern Star shares are dropping lower

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. At the time of writing, the benchmark index is up 1.1% to 6,634.7 points.

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

The ASX share price is down almost 2% to $77.84. Investors have been selling the stock exchange operator’s shares this week after it confirmed that ASIC is conducting an investigation into the ASX Trade outage on Monday 16 November 2020. ASX responded by saying that it acknowledges that this is appropriate given ASIC’s regulatory oversight.

The Kogan share price is down 4.5% to $16.54. This ecommerce company’s shares continue to slide as…