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 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.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »