In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has fought back from a soft start and is trading slightly higher. The benchmark index is currently up 0.1% to 7,268.1 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why these shares are starting the month in the red:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down almost 4% to 52 cents. Investors have been selling this semiconductor company’s shares since the release of its full-year results on Friday. Those results revealed that the billion-dollar company generated only US$250k of revenue during the second half of FY 2022.

Cooper Energy Ltd (ASX: COE)

The Cooper Energy share price is down 9% to 15 cents. This morning, analysts at Macquarie responded negatively to the energy producer’s half-year results. Its analysts note that Cooper Energy’s earnings fell well short of expectations. In response, the broker retained its neutral rating and cut its price target to 19 cents.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 4.5% to $2.19. The majority of this decline is attributable to the administration services company’s shares trading ex-dividend this morning for its latest dividend. Eligible Link shareholders can now look forward to receiving its 4.5 cents per share partially franked dividend on 11 April.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is down 2.5% to $4.06. Once again, this has also been driven by the telco giant’s shares going ex-dividend this morning. Last month, Telstra released its half-year results and declared a fully franked 8.5 cents per share interim dividend. This will now be paid to eligible shareholders at the very end of the month on 31 March.

The post Why Brainchip, Cooper Energy, Link, and Telstra shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Why is the Telstra share price sliding lower on Wednesday?
• These ASX 200 shares smashed the market in February
• Top ASX shares to buy in March 2023
• Here are the top ten ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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