Why Audio Pixels, Bowen Coking Coal, Pantoro, and Woodside shares are dropping

These ASX shares are dropping on Wednesday…

| More on:
Three guys in shirts and ties give the thumbs down.

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

The S&P/ASX 200 Index (ASX: XJO) has returned to form on Wednesday and is charging higher. In afternoon trade, the benchmark index is up 1.4% to 7,043.9 points.

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

Audio Pixels Holdings Ltd (ASX: AKP)

The Audio Pixels share price is down a further 6% to a 52-week low of $9.50. Last week, this digital speaker developer revealed that it is facing further delays with its placement. Though, delays are nothing new for Audio Pixels shareholders. Investors have been waiting over a decade for the company's speakers to be released.

Bowen Coking Coal Ltd (ASX: BCB)

The Bowen Coking Coal share price is down 3% to 30.2 cents. A number of coal miners are falling again today. This may be down to concerns that coal prices may not be as strong in 2023 and are locking in some of the stellar gains that were recorded over the last 12 months.

Pantoro Ltd (ASX: PNR)

The Pantoro share price is down 10% to 9 cents. This morning the gold miner and Tulla Resources Group Pty Ltd (ASX: TUL) revealed that they are in discussions in relation to a potential transaction to combine the ownership of the gold asset at Norseman into a single Pantoro entity. The two are joint venture partners at Norseman. It also revealed that the Halls Creek mine will be placed on care and maintenance.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2% to $34.61. Investors have been selling energy shares today after oil prices pulled back overnight. Traders were selling down oil amid concerns that Chinese demand could be softer than expected due to rising COVID cases.

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 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.

More on Share Fallers

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

Why Accent, Austal, Newmont, and Sandfire shares are plunging today

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

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Clinuvel, Medibank, Sayona Mining, and Tabcorp shares are sinking today

These ASX shares are out of favour with investors on Thursday. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Corporate Travel Management, Iress, Rio Tinto, and Woolworths shares are crashing

These ASX shares are being sold off on Wednesday. But why?

Read more »

gambling asx share price fall represented by woman in soccer had looking frustrated at tablet screen
Share Fallers

This ASX stock has halved in 6 months. It could be a bargain buy

Remember, what the share price did in the past has nothing to do with what it could do in the…

Read more »

A businesswoman ponders why her boat is sinking in the ocean.
Materials Shares

Down 7%: What's gone so wrong for Lake Resources shares today?

Lake Resources shares have been put out to dry today.

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.
Share Fallers

Why Baby Bunting, Humm, Liontown, and Star shares are sinking today

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

Read more »

A young man in a blue suit sits on his desk cross-legged with his phone in his hand looking slightly crazed.
Share Fallers

Down 76% in a year, why is the Core Lithium share price getting smashed again today?

Core Lithium and rival ASX 200 lithium miners are deep in the red on Tuesday.

Read more »

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

3 ASX All Ords shares crashing as much as 24% on results

It’s a difficult day for shareholders of these stocks.

Read more »