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Why Altium, Challenger, Lynas, & Sydney Airport shares are sinking




The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday and tumbling lower. At the time of writing, the benchmark index is down 0.65% to 7,019.2 points.

Four ASX shares that have fallen more than most are listed below. Here’s why they are sinking:

The Altium share price is down 5% to $28.50. Today’s decline appears to have been driven by a broker note out of Citi this morning. Although the broker retained its buy rating and $33.50 price target, it did warn that Altium has been discounting its platform subscriptions. It feels this could be an indication of weak trading conditions. Though, the broker remains positive on the company on the belief that its downgrade cycle is nearing an end.

The Challenger share price has…

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