In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to end the day in the red. The benchmark index is currently down 0.1% to 6,838.7 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is down 5.5% to $1.28. This is despite there being no news out of the lithium developer. However, it is worth noting that a large number of lithium shares are trading lower today. This follows a poor night on Wall Street for lithium miners such as Albermarle, Livent, and SQM.
Mineral Resources Limited (ASX: MIN)
The Mineral Resources share price is down almost 6% to $59.19. As well as getting caught up in the lithium share selling today, this mining company has seen its shares trade ex-dividend this morning. Eligible shareholders can now look forward to receiving its 100 cents per share dividend later this month on 23 September.
Pointsbet Holdings Ltd (ASX: PBH)
The PointsBet share price has continued its slide and dropped 3% to $2.36. This sports betting companyâs shares have been hammered since the release of its full year results. Investors appear concerned that it may run out of cash before reaching profit. However, one broker doesnât expect that to be the case, as covered here. Though, it admits it will be a close call.
Strike Energy Ltd (ASX: STX)
The Strike Energy share price is down 11% to 24.5 cents. This morning this energy company revealed that it has received binding commitments to raise $30 million through a placement to local and international institutional, professional, and sophisticated investors. Strike is raising the funds at an issue price of 23.5 cents per new share.
The post Why Core Lithium, Mineral Resources, PointsBet, and Strike Energy are dropping appeared first on The Motley Fool Australia.
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More reading
- Why is the Core Lithium share price tumbling 5% on Friday?
- Why is the Strike Energy share price tanking 10% today?
- Why are ASX 200 mining shares getting hammered on Friday?
- Why is the Mineral Resources share price down a hole on Friday?
- 5 things to watch on the ASX 200 on Friday
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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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