Business
Why Blackmores, Cleanspace, PointsBet, & Treasury Wine shares are sinking
After a strong start to the day, in afternoon trade the S&P/ASX 200 Index (ASX: XJO) has faded and is now deep in the red. At the time of writing, the benchmark index is down 0.55% to 6,761.7 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:
The Blackmores share price is down 6% to $78.39. This is despite there being no news out of the health supplements company today. However, last week analysts at Citi put a sell rating and $59.20 price target on its shares. They have concerns over its valuation, particularly given the prospect of increasing competition in the local market and weakness in the daigou channel.
Cleanspace Holdings Ltd (ASX: CSX)
The Cleanspace share price…
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