The S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. In late trade, the benchmark index is down 0.35% to 7,241.1 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Elders Ltd (ASX: ELD)
The Elders share price is down 3.5% to $6.95. Investors have been selling this agribusiness company's shares again on Tuesday after brokers responded negatively to its half-year results. Analysts at Macquarie, for example, downgraded its shares to a neutral rating and slashed their price target by almost half to $7.77.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is down almost 2% to $13.74. This may have been driven by a broker note out of Ord Minnett. According to the note, the broker has downgraded the gold miner's shares a notch to accumulate from buy with a $14.20 price target. This was in response to a softer than expected quarterly update.
Pointsbet Holdings Ltd (ASX: PBH)
The Pointsbet share price is down 5% to $1.38. Investors have been selling this sports betting company's shares since it announced the sale of its US business. Though, it is worth noting that Bell Potter sees this as a buying opportunity. It believes the remnants are worth far more than its current market capitalisation.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price has crashed almost 18% to $6.14. This is despite there being no news out of the semiconductor company. However, this decline could be a sign that some investors are waking up to the prospect of Weebit Nano being another meme stock that sucks you in and then destroys your wealth.
