In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the day deep in the red. At the time of writing, the benchmark index is down 0.75% to 6,447 points.
Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:
Cedar Woods Properties Limited (ASX: CWP)
The Cedar Woods share price is down 8% to $3.96. This has been driven largely by the property company’s shares trading ex-dividend this morning for its latest dividend. Eligible shareholders can now look forward to receiving Cedar Woods’ 14.5 cents per share dividend next month on 28 October.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price has continued its slide and is down a further 6% to $1.12. Investors have been selling this lithium developer’s shares despite the release of a positive business update this week. Not even a bullish note out of Macquarie has been able to stop its shares from falling. Macquarie has an outperform rating and $1.80 price target on its shares.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is down over 2.5% to 56.5 cents. This has also been driven by this department store operator’s shares trading ex-dividend this morning. Eligible Myer shareholders will be paid the company’s fully franked 2.5 cents per share final dividend on 7 November.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price has sunk 19% to $4.38. This morning this biopharmaceutical company revealed that it has withdrawn its marketing authorisation application in Europe for its investigational product Illuccix. This followed a late request for more data from regulators that could not be fulfilled.
The post Why Cedar Woods, Core Lithium, Myer, and Telix shares are sinking appeared first on The Motley Fool Australia.
More reading
- Why is the Core Lithium share price sinking 9% today?
- September living up to its ‘worst month of the year’ reputation as ASX 200 finally cracks
- Telix share price sinks 12% on European blow
- Why Core Lithium, Ramsay, Synlait Milk, and Virgin Money shares are dropping
- Core Lithium share price falls despite business update
Motley Fool contributor James Mickleboro has positions in TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/oGUtWlT
Leave a Reply