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ASX200 slides; Kogan.com dips 5% on ASX200 removal; Sigma Healthcare hit by investor concerns over FY22 guidance.

  • The ASX200 is trading 0.44% lower on Monday at 7209.40 points.
  • Kogan.com shares hit by broad tech sell-off and removal from ASX200.
  • Sigma Healthcare shares hit by investor fears of EBITDA decline for FY22.

The Australian market is trading 0.44% lower at 7209.40 points to start the week as a tech stock tumble drags down the key index.

The tech sector is following the Nasdaq’s lead from Friday, trading more than 2.7% lower today so far as Nearmap tanks 7.5%, Appen sheds 4.9% and Afterpay trades down 4.8%.

Bitcoin is trading 0.07% higher over the last 24-hours at US$49,055.73 at 1:30pm AEDT.

Kogan.com is trading 5.6% lower today amid the broad tech sell-off and in the aftermath of news that the ecommerce company will be removed from the ASX200 prior to the commencement of trading on December 20, 2021. The removal is due to the market capitalisation of Kogan.com shares not being at levels to make it one of the top 200 companies on the ASX anymore.

Making headlines, Sigma Healthcare is taking a hit today after the wholesale and distribution pharmacy business announced a trading update today. Sigma Healthcare said it expects underlying EBITDA for FY22 to fall 10% compared to FY21 due to challenges faced during the pandemic and higher operating costs.

And Toys ‘R’ Us is opening a new ‘interactive’ two-story store in American Dream, an entertainment centre in New Jersey, over 20,000 square feet including an ice cream parlour, a two-story slide, and product demonstrations.

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