The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down almost 0.1% to 8,823 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Humm Group Ltd (ASX: HUM)

The Humm share price is down 20% to 46.7 cents. This follows news that a proposed takeover by Credit Corp Group Ltd (ASX: CCP) has collapsed. Credit Corp stated: “Following a period of commercial due diligence, Credit Corp raised a number of matters which it was unable to gain comfort on following further discussions with Humm. Consequently, it informed Humm on the evening of Friday 19 June that its bid was materially reduced relative to its non-binding indicative offer. Humm has confirmed over the weekend that a mutually acceptable transaction cannot be agreed between the two parties.”

Metcash Ltd (ASX: MTS)

The Metcash share price is down 2% to $3.11. Investors have been selling this wholesale distributor’s shares following the release of its FY 2026 results. For the 12 months ended 30 April, Metcash reported a modest 0.2% increase in revenue (excluding charge-through sales) to $17.35 billion and a 2.4% decline in underlying net profit after tax to $268.8 million. Metcash’s CEO, Doug Jones, said: “Our FY26 performance demonstrates the strength and resilience of the Metcash business model. Despite mixed trading conditions across our markets, we delivered solid earnings, strong cash generation and continued progress on our long-term strategic priorities. Our scale, our national supply chain, and our deep relationships with independent retailers remain powerful competitive advantages. We now support ~105,000 customers, ~6,300 bannered stores and reach ~95% of Australians – a unique platform that continues to generate resilient, high-quality cashflows.”

Pls Group Ltd (ASX: PLS)

The PLS share price is down 5% to $5.59. This is despite there being no news out of the lithium miner. However, it is worth noting that most lithium miners are falling on Monday. On Friday, Contemporary Amperex Technology shares tumbled around 4% on the Paris stock exchange.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 14% to $31.72. Investors have been rushing to the exits today following reports that the Australian Federal Police (AFP) is investigating founder Richard White over alleged trafficking matters. It has been claimed that White exploited a former cleaner’s immigration status and financial position and provided false information on a visa application. WiseTech has not responded to the reports.

The post Why Humm, Metcash, PLS, and WiseTech shares are sinking today appeared first on The Motley Fool Australia.

More reading

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• ASX 200 stock drops on FY 2026 results
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• Down but not out: 3 ASX tech shares ripe for a rebound
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Renascor Resources Ltd (ASX: RNU) were trading 10% higher after the company said it had started processing graphite through its demonstration plant, in a major milestone for the critical minerals aspirant.

Value-added graphite targeted

The company is aiming to become a supplier to the global battery supply chain, mining graphite from its Siviour deposit on the Eyre Peninsula, then processing a “purified spherical graphite” product for export.

The critical minerals company said on Monday:

The introduction of graphite and reagents into the integrated purification flowsheet marks the commencement of graphite processing under operating conditions at the demonstration plant. These activities are intended to demonstrate the ability to produce battery-grade graphite using Renascor’s HF-free purification process, which is designed to achieve the purity requirements for lithium-ion battery anodes without the use of HF (hydrofluoric acid) while supporting a more environmentally sustainable and cost-competitive purification pathway. The campaign will also support the generation of qualification samples for prospective customers.

Renascor said all of the major process systems had now been operated at target operating parameters.

The company added:

Activities are progressing in line with schedule, with the current phase focused on validating operation of the integrated purification flowsheet under operating conditions. This phase is expected to continue into the next quarter before larger operating runs aimed at generating optimised operating data and larger-scale qualification samples for prospective customers.

Renascor Managing Director David Christensen said:

The commencement of graphite processing through our integrated purification flowsheet represents an important milestone for the PSG demonstration plant and the broader development of Renascor’s downstream battery materials strategy. For the first time, we are operating the process under production conditions with graphite and reagents, with the objective of demonstrating the production of battery-grade graphite and generating qualification material for prospective customers. The demonstration plant was built to validate our HF-free purification process, generate operating data and support customer qualification programs. The activities now underway are an important step in demonstrating that capability and progressing toward commercial-scale production.

Government-backed strategy

The demonstration plant was built with the aid of a $5 million grant from the Australian Government under its Critical Minerals Program.

Renascor said it believed its process “has the potential to provide a commercially competitive and more environmentally sustainable alternative to conventional purification methods through lower reagent consumption, reagent recycling and reduced environmental handling requirements”.

Renascor shares were up 10% to 5.5 cents on Monday. The company is valued at $127.3 million.

The post Why is this junior critical minerals company up 10%? appeared first on The Motley Fool Australia.

More reading

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• Why A2 Milk, Lindian Resources, Perenti, and SGH shares are pushing higher today
• The Strait of Hormuz is closed again! What does that mean if you’re buying ASX shares?
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Motley Fool contributor Cameron England 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.

Core Lithium Ltd (ASX: CXO) shares were moving around early on Monday before falling into the red.

This comes after the company released a new update from its Finniss Lithium Project in the Northern Territory.

At the time of writing, the Core Lithium share price is down 2.62% to 29.7 cents.

Despite today’s fall, the lithium stock is still up 8% since the start of 2026 and has rocketed 238% over the past 12 months.

Let’s take a closer look at what was in today’s announcement.

Underground work begins at BP33

In a statement to the ASX, Core Lithium said underground decline development has now started at the BP33 deposit.

This is a major step for Finniss, which sits about 88 kilometres by sealed road from Darwin Port.

The company said BP33 is expected to provide a long-life, low-cost underground production base, with a mine life of more than 10 years. It also remains open at depth, which means there could be room to extend the operation over time.

The underground development will run alongside the current open-pit mining at Grants.

Core Lithium expects Grants to deliver around 780,000 to 790,000 tonnes of ore and 130,000 to 140,000 tonnes of spodumene concentrate.

Ore from Grants is expected to be processed during the September quarter, with shipments to continue soon after and run through 2027.

First shipment leaves Darwin

The update also included some progress on shipments.

Core Lithium confirmed that its Finniss logistics chain is now fully operational after the first shipment of lithium fines and spodumene concentrate left Darwin Port.

The shipment included 20,000 tonnes of lithium fines and 5,000 tonnes of spodumene concentrate.

The company expects to receive payment before the end of the June quarter, giving it another cash inflow while activity at Finniss ramps up.

Managing Director Paul Brown said the start of underground development at BP33 was a major milestone for the company.

He also said the first shipment showed that Core Lithium’s port and logistics network was now operating as planned.

Core Lithium still has work to do

Core Lithium has had a difficult few years, along with much of the lithium sector, after spodumene prices dropped from their highs.

Today’s update is a step in the right direction, with BP33 moving underground and the first shipment leaving Darwin Port.

However, the company now needs to keep the momentum going at Finniss if the share price run is to continue.

The post This ASX lithium stock just reached a key milestone. Why is it down? appeared first on The Motley Fool Australia.

More reading

• What’s Core Lithium’s big news today?
• Guess the ASX lithium stock racing higher on big news

Motley Fool contributor Aaron Teboneras 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.