Why Afterpay, Cleanaway, Mosaic Brands, & Perpetual shares are dropping lower
James Mickleboro | January 22, 2021 12:44pm |
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In afternoon trade the
S&P/ASX 200 Index (ASX: XJO) is on track to end the week in a subdued manner. The benchmark index is down 0.2% to 6,812 points at the time of writing.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping lower:
The Afterpay share price is down 5% to $141.85. This appears to have been driven by profit taking from investors after some stellar gains recently. In fact, at one stage today the Afterpay share price hit a record high of $151.22. When the payments company’s shares hit that level, it meant they were up a massive 37% since last Wednesday. A bullish broker note and Affirm’s successful IPO in the US have helped drive Afterpay’s shares higher this month.