Why 4DMedical, DroneShield, Super Retail, and Tamboran shares are falling today

The S&P/ASX 200 Index (ASX: XJO) is having a positive start to the week. In afternoon trade, the benchmark index is up 0.4% to 8,752.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is down 6% to $4.34. This is despite there being no meaningful news out of the medical technology company. However, with its shares up over 700% since this time last year, there could be some profit taking going on from some investors today. In other news, 834,103 new shares were issued today by the company as part of the option underwriting agreement it entered into with Bell Potter. They had an issue price of $1.365 per new share, which is significantly lower than the current share price.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 3% to $3.89. This could also have been driven by profit taking from some investors. The counter drone technology company’s shares remain up over 25% since the start of the year despite this pullback. On a 12-month basis, DroneShield shares are up over 400%.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is down 5.5% to $14.83. Investors have been selling this retail conglomerate’s shares after it released a trading update. The Supercheap Auto, BCF, Rebel, and Macpac owners revealed that it expects to report a 4.2% increase in total sales to a record of $2.2 billion for the first half. However, due to margin pressures from discounting, Super Retail’s normalised profit before tax is expected to be $172 million to $175 million. This is a reduction from $186 million in the prior corresponding period and $206 million a year before that.

Tamboran Resources (ASX: TBN)

The Tamboran Resources share price is down 5% to 19.5 cents. This is despite the independent natural gas exploration and production company announcing the appointment of its new CEO this morning. Tamboran revealed that Todd Abbott has been appointed to the top job, effective 15 January. He has over 25 years’ upstream oil and gas experience spanning unconventional shale operations, business planning, corporate finance, and strategy. The company’s chair, Richard Stoneburner, said: “Todd brings over two decades of upstream experience with a strong record of operational leadership, capital discipline, safety and stewardship. His background at Seneca, Marathon and Pioneer demonstrates an ability to improve productivity while lowering costs, which aligns with our focus on safe and efficient execution and delivering value for shareholders from our Beetaloo Basin development.”

The post Why 4DMedical, DroneShield, Super Retail, and Tamboran shares are falling today appeared first on The Motley Fool Australia.

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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 DroneShield and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.