In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is edging lower. At the time of writing, the benchmark index is down slightly to 6,968 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:
Alumina Limited (ASX: AWC)
The Alumina share price is down 3% to $1.75. Investors may have been selling the alumina company’s shares due to concerns about falling prices. According to S&P Global, record high freight is impacting alumina prices. This led to S&P Global warning that alumina may be poised for a bumpy ride during the second quarter of 2021.
Delorean Corporation Limited (ASX: DEL)
The Delorean share price is down almost 17% to 35 cents. Investors appear to be taking profit after a very strong performance on Monday following the successful completion of its IPO. Delorean is in the renewable energy industry, selling power to retail and wholesale clients under the CleanTech Energy brand. It has aims to generate electricity and gas from organic waste that would otherwise end up in landfill.
Next Science Ltd (ASX: NXS)
The Next Science share price is down 6.5% to $1.40. The medical device company’s shares have come under pressure following the release of its first quarter update. For the three months ended 31 March, the company reported unaudited revenue of US$2.2 million. While this was almost five times greater than the prior corresponding period, it was down slightly quarter on quarter.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price has fallen 3.5% to $1.78. This is despite there being no news out of the donation and community engagement platform provider’s shares. However, prior to today, the Pushpay share price was up 25% since this time in January. This could have led to some profit taking from investors. Especially given the upcoming release of its full year results.
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More reading
- Here’s why the Next Science (ASX:NXS) share price is sinking 6% lower
- 2 highly rated ASX shares to buy now
- Delorean (ASX:DEL) debuts on ASX, already posting profits
- Got cash to invest? Here are 2 ASX shares to buy
- 3 stellar ASX growth shares to buy next week
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nexus Energy Limited and PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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