Why Lake Resources, Latitude, Synlait, and Woodside shares are falling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a modest gain. At the time of writing, the benchmark index is up 0.15% to 6,965.6 points.

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

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is down 11.5% to 42.5 cents. This follows news that the lithium developer’s chairman, Stu Crow, has been selling shares. According to the release, Crow sold approximately $3.9 million worth of shares through on-market trades.

Latitude Group Holdings Ltd (ASX: LFS)

The Latitude share price is down 3% to $1.17. This morning, this non-bank lender released an update on its recent cybersecurity incident. Its latest update reveals that a forensic review has identified that approximately 7.9 million Australian and New Zealand driver licence numbers and approximately 53,000 passport numbers were stolen.

Synlait Milk Ltd (ASX: SM1)

The Synlait Milk share price is down almost 6% to $2.11. This follows the release of the dairy processor’s half-year results this morning. Synlait had a tough half and reported an 83% decline in net profit after tax to NZ$4.8 million. This reflects operational stability and cost challenges, which have impacted its performance.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down almost 3% to $31.63. This appears to have been driven by a pullback in oil prices on Friday night. Traders seem concerned that the banking crisis could spread and hurt economic growth and demand for oil. The S&P/ASX 200 Energy index is down almost 2% this afternoon.

The post Why Lake Resources, Latitude, Synlait, and Woodside shares are falling today appeared first on The Motley Fool Australia.

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More reading

• Lake Resources share price plummets 12% following $3.9m insider sell-off
• Guess which ASX All Ords stock is plummeting following an 80% profit dive
• Here are the top 10 ASX 200 shares today
• 5 things to watch on the ASX 200 on Friday
• Why are ASX lithium shares sinking today?

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 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.

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