In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. The benchmark index is currently down 0.15% to 7,235.2 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Latin Resources Ltd (ASX: LRS)
The Latin Resources share price is down over 7% to 32 cents. This is despite there being no news out of the lithium explorer today. However, prior to today, its shares were up almost 100% in the space of a month. This could have led to some investors taking a bit of profit off the table on Tuesday.
Paradigm Biopharmaceuticals Ltd (ASX: PAR)
The Paradigm share price is down 2% to $1.03. Investors have been selling this biopharmaceutical company's shares despite the company releasing a clinical trial update. Paradigm advised that participants have been identified for completion of stage 1 of the PARA_OA_002 clinical trial. Following dose selection, the PARA_OA_003 confirmatory trial can commence.
Sunland Group Ltd (ASX: SDG)
The Sunland share price is down 20% to $1.08. This has been driven largely by the residential property company's shares going ex-dividend this morning. Eligible shareholders can now look forward to receiving a massive fully franked 20 cents per share special dividend later this month on 27 July.
Weebit Nano Ltd (ASX: WBT)
The Weebit Nano share price is down 3.5% to $4.75. Investors have been selling down this semiconductor company's shares since it was suspended from trade for not having enough Australian directors. Zero revenue and a lofty ~$1 billion market capitalisation may also be to blame. Following today's pullback, the Weebit Nano share price is now down 25% since this time last month.
