PLS Group Ltd (ASX: PLS) shares remained under pressure on Tuesday, falling 5.6% to $4.85 during afternoon trade.

The latest decline extends a difficult run for the lithium giant, with the stock now down around 18% over the past month.

That pullback looks painful, but it also needs some perspective. PLS shares are still up around 18% in 2026 and an extraordinary 226% over the past 12 months after emerging as one of the ASX’s standout performers during FY26.

So, why are investors suddenly hitting the sell button?

A victim of its own success

PLS was one of the biggest winners during the lithium rally, making today’s weakness partly a case of profit-taking after an exceptional run.

The company is widely regarded as the highest-beta lithium stock on the ASX. When lithium prices rally, PLS shares often outperform the broader sector thanks to its size, production scale and operating leverage.

Unfortunately, the opposite is also true. When lithium prices soften, PLS tends to fall harder than its peers as investors reduce exposure to the sector’s market leader.

That appears to be exactly what’s happening now.

Lithium prices lose momentum

Another factor weighing on sentiment is the recent weakness in China’s lithium market. Chinese lithium carbonate futures declined again overnight, extending the pullback that began in late June following a powerful rally earlier this year.

The correction appears to be driven largely by profit-taking, with traders questioning whether lithium prices had risen too far, too quickly relative to underlying market fundamentals.

Because lithium prices remain one of the biggest drivers of earnings expectations across the sector, weaker futures have flowed through to ASX-listed lithium producers, including PLS.

Underlying business remains strong

Importantly, the recent share price weakness doesn’t reflect a deterioration in PLS’s underlying business. The company’s impressive first-half FY26 result highlighted just how much its financial performance has improved.

Revenue climbed 47% to $624 million, supported by both stronger lithium prices and higher sales volumes. Underlying EBITDA surged 241% to $253 million, while EBITDA margins expanded from 17% to an impressive 41%.

Those results demonstrate the operating leverage within the business. As lithium prices improve, PLS can translate higher revenue into significantly faster earnings growth.

Its flagship Pilgangoora operation also remains one of the world’s largest hard-rock lithium mines, giving the company significant scale advantages and a competitive cost position.

What’s next for PLS shares?

The next major catalyst will be the company’s second-half FY26 results, due on 31 August. Investors will be watching closely for updates on production and shipment volumes, operating costs and management’s outlook for lithium demand and pricing.

Progress on the P2000 expansion project will also be closely scrutinised, with investors in PLS shares eager to understand how the company plans to increase production while maintaining its cost advantage.

Foolish takeaway

PLS shares have lost momentum over the past month, but much of the weakness appears linked to softer lithium prices and investors taking profits after one of the strongest rallies on the ASX.

The company’s fundamentals remain solid, supported by strong earnings growth, expanding margins and one of the world’s premier lithium assets.

However, until commodity markets regain momentum, investors should expect volatility to remain part of the ride.

The post Why are PLS shares still falling? Here’s what’s behind the sell-off appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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.

Nine Entertainment Co Holdings Ltd (ASX: NEC) shares are pushing higher on Tuesday after the media company gave investors something new to weigh up.

At the time of writing, the Nine share price is up 1.87% to 92.7 cents.

It is only a modest gain, but shareholders will take it. Nine shares are still down 17% since the start of 2026 and 43% over the past year.

Here’s what the company announced.

NRL rights locked in

According to the release, Nine has signed an agreement for NRL and NRLW broadcast rights from 2028 through to the 2034 seasons.

Under the agreement, Channel 9 and 9Now will keep their current NRL coverage. That includes 3 live NRL games each week, the Finals Series, and Test matches played in Australia.

The NRL Grand Final and State of Origin will continue to be shown exclusively on Channel 9 and 9Now.

Nine has also secured exclusive free-to-air and free streaming rights to 33 live NRLW games, the NRLW finals, and Women’s State of Origin.

What Nine is paying

Nine said the annual cost will be $145 million in cash. This will be partly offset by $10 million in committed annual NRL advertising and other services, as well as $15 million each year in contra.

Live sport remains one of the few things that can still pull big audiences at the same time. Rugby league is also a major part of Nine’s broadcast schedule.

The company said men’s streaming and broadcast audiences have increased across all formats. Rugby league also delivered double-digit revenue growth for Nine in the 2025 season compared with 2024.

Why are Nine shares only up a little?

The Nine share price gain isn’t huge, and that probably comes down to the cost of the deal.

Investors knew Nine was chasing the NRL rights, so the agreement itself is not a major surprise. The bigger question is how much value Nine can pull from the content over the life of the deal.

That leaves the focus on what Nine can do with the rights from here.

Advertising conditions are still uneven, and Nine will need rugby league to keep driving audiences, revenue growth, and 9Now engagement to make the extra spend worthwhile.

Can Nine shares recover?

The deal doesn’t solve all of Nine’s problems, but it does take a big risk off the table.

Losing rugby league would have been a bad result. It is a major part of Nine’s free-to-air and streaming schedule, and still one of the better ways to bring in big live audiences.

Nine now has the rights locked in through to 2034, across both the men’s and women’s competitions. That should help 9Now, the broadcast business, and the way Nine sells advertising around its sports coverage.

Nonetheless, after a 43% fall over the past year, the share price still has plenty of work to do. But this is one less thing investors have to worry about.

The post Why this beaten-down ASX media stock is rising today appeared first on The Motley Fool Australia.

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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 recommended Nine Entertainment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

WiseTech Global Ltd (ASX: WTC) shares are continuing their impressive run on Tuesday.

At the time of writing, the ASX 200 tech stock is up 10.43% to $39.06. By comparison, the S&P/ASX 200 Index (ASX: XJO) is relatively flat at 8,833 points.

WiseTech shares have now climbed 15% over the past week, although they remain down 43% since the start of 2026.

After such a heavy fall this year, the latest gain suggests investors are responding to signs of progress.

So, what did WiseTech announce?

Richard White hands over the chair role

According to the release, Raelene Murphy has been appointed Independent Chair with immediate effect.

Murphy only joined the WiseTech board at the start of this year, but has already been moved into a bigger role. She became lead Independent Director in May and is now taking over the chair position.

However, White isn’t stepping away from the company. He will remain on the board as an Executive Director and continue as Chief Innovation Officer.

This means he will still be involved in the parts of WiseTech that investors probably care about most, including product, technology, and growth.

White said recent personal media attention had become an unnecessary distraction from the strength of the business. He also repeated that he denies the recent allegations reported in the media.

Board renewal continues

In addition, WiseTech advised that it isn’t finished with the board changes just yet.

The company said it is still searching for another independent non-Executive Director.

Since March 2025, Chris Charlton, Sandra Hook, Rob Castaneda, and Murphy have all been appointed as independent non-Executive Directors.

Once the next appointment is made, WiseTech will have a total of 5 Independent Directors on its board.

That should help answer some of the governance concerns that have followed the company over the past year.

WiseTech also pointed to Zubin Appoo’s appointment as CEO in July 2025 as part of its wider succession planning.

The board commented:

Appoo has demonstrated strong leadership since taking on the CEO role, and said it is comfortable with the progress of its executive succession plan.

The business is still growing

Away from the board headlines, WiseTech is still a major global software business.

The company provides software for the logistics, global trade, and supply chain industries. It serves more than 22,000 logistics companies and other industry participants across 193 countries.

And its latest half-year result also showed why investors haven’t completely given up on the stock.

In 1H26, revenue increased 76% to US$672 million, helped by e2open and growth in CargoWise. EBITDA rose 31% to US$252.1 million, although statutory net profit fell 36% to US$68.1 million.

Despite the mixed results, WiseTech is a growing business.

Keep in mind, the underlying business has not changed. If anything, investors now have a better reason to focus on the growth still coming through.

The post WiseTech shares surge 10% as Richard White steps back from chair role appeared first on The Motley Fool Australia.

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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 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.