Tough Finish for Mesoblast, Polynovo, and Skycity Shares

Highlights:

• Mesoblast's shares are experiencing a 6.5% decline to 29.5 cents.
• Navigator Global's share price is down 8% to AU$1.15, despite no recent news from the investment company.
• Polynovo's share price is down 2.5% to AU$1.51 after Ord Minnett maintained a lighten rating.

Overview of the Market:

The S&P/ASX 200 Index is navigating challenges to close the week on a positive note, currently up slightly at 7,176.2 points. However, several ASX-listed companies are facing a downward trend, impacting market proceedings.

Mesoblast Ltd (ASX: MSB):

Mesoblast's shares are experiencing a 6.5% decline to 29.5 cents. The biotech company recently announced a capital raising initiative, raising AU$55 million from institutional investors at a 26% discount of $0.30 per new share. Currently seeking an additional AU$42 million from retail shareholders at the same price, Mesoblast's shares have declined by 22% in December.

Polynovo Ltd (ASX: PNV):

Polynovo's share price is down 2.5% to AU$1.51 after Ord Minnett maintained a lighten rating and a AU$1.00 price target following the medical device company's latest sales update. Analysts suggest the market is overly optimistic about PolyNovo's growth outlook.

Skycity Entertainment Group Ltd (ASX: SKC):

Skycity's share price has declined by 2% to AU$1.69 following a trading update release. Management revised its guidance for normalized EBITDA in FY 2024 to NZ$290 million to NZ$310 million, down from the previous NZ$310 million, leading to investor sell-off.

Investor Sentiment:

Investors seem to be responding to a variety of factors, including capital raising activities, analyst assessments, and revised guidance, contributing to the downward pressure on these shares. As market dynamics evolve, investors will closely monitor developments impacting these companies.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com