In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.6% to 7,278.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Image source: Getty Images
Dusk Group Ltd (ASX: DSK)
The Dusk share price is down 16% to $1.27. Investors have been hitting the sell button after this specialist retailer released a disappointing trading update. Dusk revealed that it expects FY 2023 sales of $135 million to $137 million and EBIT of $16 million to $17 million. This compares to FY 2022's figures of $138.4 million and $26.5 million.
Impedimed Limited (ASX: IPD)
The Impedimed share price is down almost 12% to 13.7 cents. This has been driven by the announcement of a $20 million institutional placement. Impedimed intends to raise the funds at a 16.1% discount of 13 cents per share. Proceeds will be used to accelerate its Private Payor opportunity.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is down 4.5% to $5.78. This may have been driven by profit taking after a strong gain yesterday following the release of its half-year results. In addition, Morgans gave its results a lukewarm reaction. It retained its hold rating with a lowered price target of $6.64.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is down a further 2.5% to $5.59. Investors have been selling this meme stock this month amid rising short interest and its sky-high valuation on zero revenue. The Weebit Nano share price is now down by over a quarter since this time last week.
