Why Nuix, Resolute, Talga, and Vection shares are falling today

These ASX shares are in the red today…

| More on:
A man stands in front of a chart with an arrow going down and slaps his forehead in frustration.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It has been a great day for the S&P/ASX 200 Index (ASX: XJO. In afternoon trade, the benchmark index is up a sizeable 1.25% to 7,330.9 points.

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

Nuix Ltd (ASX: NXL)

The Nuix share price is down 11% to $2.27. This follows the release of a disappointing trading update from the investigative analytics and intelligence software company this morning. That update reveals the Nuix’s revenue was up 10% during the first four months of FY 2022. However, a jump in costs means that Nuix’s pro forma EBITDA has fallen 27% during the same period.

Resolute Mining Limited (ASX: RSG)

The Resolute share price is down 2.5% to 37 cents. This appears to have been driven by a shift back to risk assets, which is weighing on safe haven assets like gold miners. It isn’t just Resolute falling today. The S&P/ASX All Ordinaries Gold index is down 0.7% at the time of writing.

Talga Group Ltd (ASX: TLG)

The Talga share price has tumbled almost 17% to $1.50. Investors have been selling the battery materials company’s shares after a non-binding Letter of Intent executed with Mitsui & Co and Luossavaara-Kiirunavaraa Aktiebolag expired without a deal being signed. Talga advised that it will continue to pursue existing and new financing and partnership opportunities.

Vection Technologies Ltd (ASX: VR1)

The Vection Technologies share price has crashed 18% to 22.5 cents. This follows the completion of a $12 million equity raising this morning. Those funds were raised a 20 cents per new share, which represents a huge discount of 27% to its last close price. Vection intends to use the funds to support its expansion plans and strengthen its balance sheet. The company also revealed that its managing director is selling 15 million shares.

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 recommended Nuix Pty Ltd. 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.

More on Share Fallers

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Resources Shares

Why did the Rio Tinto share price hit the brakes in FY22?

Rio Tinto shares recorded one of its most volatile years on record.

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Ardent Leisure, Betmakers, Suncorp, and Ten Sixty Four shares are dropping

These ASX shares are falling on Tuesday...

Read more »

a man wearing a business shirt and pants reclines on a leather sofa with his laptop computer resting on his stomach as he looks concerned at what he's reading on the screen.
Share Fallers

Why did the Adairs share price fall 18% in June?

June was a shocking month for shares in Adairs.

Read more »

A male executive worker wearing glasses and a blue collared shirt looks at his laptop screen with a concerned look on his face and his hand to his forehead as he watches the Bank of Queensland share price fall
Share Fallers

Why did the NAB share price backtrack 12% in June?

NAB shares were in poor form for the month of June.

Read more »

Businessman puts hand over eyes on a sinking boat in ocean
Share Fallers

Wipeout: Why did the Magellan share price sink 70% in FY22?

The last financial year was a horror show for Magellan.

Read more »

Red arrow going down on a chart, symbolising a falling share price.
Share Fallers

Why Audio Pixels, Lake Resources, Link, and Magellan shares are dropping

These ASX shares are starting the week in the red...

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Financial Shares

Why is the Magellan share price sinking 9% today?

The fund manager's shares continue their downward journey today.

Read more »

A woman wearing a gold top and carrying a gold bar gives the thumbs down signal as she leans against a wall with a sombre look on her face as the Kingsgate share price goes lower
Share Fallers

Why did the Evolution share price freefall 38% in June?

It's been another disappointing month for Evolution shares.

Read more »