The following ASX shares are experiencing declines today:
AVITA Medical Inc (ASX: AVH): The AVITA Medical share price has fallen by 14% to $3.41. This drop follows the release of the company’s first-quarter sales update, which revealed a lower-than-expected commercial revenue range due to a slower conversion rate of new accounts for its expanded label.
Cettire Ltd (ASX: CTT): Cettire’s share price is down 4% to $3.22 after the release of its third-quarter update. Despite impressive sales growth, investors seemed concerned about softer earnings, as the underlying EBITDA was significantly less than the quarterly average during the first half of FY 2024.
Domino’s Pizza Enterprises Ltd (ASX: DMP): Domino’s Pizza share price has dropped by 4% to $41.80 following the release of its strategy presentation. Despite outlining plans for sustainable long-term growth, some investors appear cautious, resulting in a decline of approximately 30% since the beginning of the year.
Star Entertainment Group Ltd (ASX: SGR): The Star Entertainment share price has fallen by 8% to 50.2 cents after the company released a trading update. The update reported a decline in net revenue and earnings, primarily attributed to decreased revenue from its Premium Gaming Rooms across all properties during the quarter.
These declines reflect various company-specific factors, including revised revenue guidance, concerns about earnings performance, and disappointing trading updates.
