In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.4% to 7,113.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Atlantic Lithium Ltd (ASX: A11)
The Atlantic Lithium share price has dropped a further 9% to 45.5 cents. Investors have been selling this lithium developer's shares following a short attack from Blue Orca last week. It alleges that Atlantic Lithium obtained key Ghana mining licenses by making secret payments and promises of payment to the immediate family of a high-level Ghana politician. Atlantic Lithium has denied these allegations.
Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price is down 3.5% to 56.5 cents. This rare earths developer's shares have come under pressure this month amid comments out of Tesla at its investor day. The electric vehicle giant revealed that it plans to drop the use of rare earths in its future electric vehicle models.
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down almost 4% to 50.5 cents. Short sellers have been increasing their positions in this struggling semiconductor company. They don't appear to believe that its sales performance will improve in the near term and justify its crazy valuation. Breaking into the semiconductor market and having big companies trust your largely unproven tech is no easy feat.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is down 4% to 90.7 cents. This morning, analysts at Goldman Sachs reiterated their sell rating and 90 cents price target on this lithium developer's shares. Goldman has been looking at the lithium market and notes continued weakness in spot prices.
