In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a modest gain. At the time of writing, the benchmark index is up 0.15% to 6,965.6 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price is down 11.5% to 42.5 cents. This follows news that the lithium developer's chairman, Stu Crow, has been selling shares. According to the release, Crow sold approximately $3.9 million worth of shares through on-market trades.
Latitude Group Holdings Ltd (ASX: LFS)
The Latitude share price is down 3% to $1.17. This morning, this non-bank lender released an update on its recent cybersecurity incident. Its latest update reveals that a forensic review has identified that approximately 7.9 million Australian and New Zealand driver licence numbers and approximately 53,000 passport numbers were stolen.
Synlait Milk Ltd (ASX: SM1)
The Synlait Milk share price is down almost 6% to $2.11. This follows the release of the dairy processor's half-year results this morning. Synlait had a tough half and reported an 83% decline in net profit after tax to NZ$4.8 million. This reflects operational stability and cost challenges, which have impacted its performance.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside share price is down almost 3% to $31.63. This appears to have been driven by a pullback in oil prices on Friday night. Traders seem concerned that the banking crisis could spread and hurt economic growth and demand for oil. The S&P/ASX 200 Energy index is down almost 2% this afternoon.
