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Cettire shed 21% on Q4 results that revealed the luxury online retailers swung to a loss in FY21

A sharp sell-off in tech stocks snapped a four day winning streak for the Australian market today, with the key index closing the session 0.14% lower at 7078 points.

Australia’s trade balance in December had a sharp increase in imports which weighed Australia’s trade surplus down 1.4 billion dollars to 8.4 billion dollars for the month, as revealed in data out today.

The stocks that made headlines today were:
Luxury online fashion retailer Cettire tumbled more than 21% today after releasing fourth quarter results. Despite the company reporting record revenue, the company swung to a loss for the quarter and for the financial year.

Nick Scali shares rallied today after the furniture retailer reported first half revenue growth, despite also reporting net profit after tax declining 6.6% on the prior corresponding quarter.

Lumos Diagnostics jumped almost 5% after the Federal Health Minister said Australia’s rapid antigen test supply shortage could soon come to an end, and the Andrews government plans to invest 17.2 million dollars in Lumos Diagnostics to establish capability for manufacturing RATs in Victoria.

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