Why has the ASX (ASX:ASX) share price slumped 6% in 3 weeks?

Here’s what might be driving the ASX share price lower.

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The ASX Ltd (ASX: ASX) share price has had a tough run lately despite the company’s silence.

The ASX share price has fallen a significant 6% over the last 3 weeks.

While the stock exchange operator hasn’t posted any price-sensitive news in nearly a month, there have been a couple of happenings that could have impacted its share price.

Right now, the ASX share price is $83.16, 2.33% higher than its previous close.

Let’s take a closer look at what might have been driving ASX’s shares lower recently.

What might be driving ASX on the ASX?

The ASX share price has had a rough trot these last few weeks, even as the company hasn’t posted news since mid-August.

However, ASX’s ex-dividend date was passed on 6 September. That means that an investor needed to have the company’s shares in their portfolio before that date to receive a dividend.

As the company’s final dividend for financial year 2021 was worth $1.112, it makes sense the market saw the value of ASX’s stock drop by that amount from the ex-dividend date.

In fact, the ASX share price fell by $1.58 on its most recent ex-dividend date.

Additionally, the company’s share price might be recovering from the notable climb that followed the release of its financial year 2021 results. Over the 3 days following the release of ASX’s financial year 2021 earnings, the company’s shares gained 8%.

The poor 3 week’s performance might be representative of the market’s excitement surrounding ASX’s earnings dwindling.

Further, the last few weeks haven’t been great for the broader market. The S&P/ASX 200 Index (ASX: XJO) has fallen 0.7% over the last 3 weeks. While the All Ordinaries Index (ASX: XAO) is down 0.3%.

This means, no matter what’s caused its slump, ASX’s stock isn’t alone in its recent struggles.

ASX share price snapshot

Despite ASX’s stock’s recent slump, it’s still having a good year on the ASX.

It is currently 14% higher than it was at the start of 2021. It has also gained 0.7% since this time last year.

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Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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