The S&P/ASX 200 Index (ASX: XJO) is out of form again on Thursday. In afternoon trade, the benchmark index is down 0.9% to 7,129.7 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is down 24% to 41.5 cents. This has been driven by news that the lithium miner is raising $120 million at a significant discount of 40 cents per new share. In addition, the company revealed that it has received a notification from Tesla of a potential legal claim relating to a binding term sheet entered between the parties.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price is down 7% to $3.78. This morning, this property listings company released its FY 2023 results and revealed a 0.5% decline in revenue to $345.7 million and a 28.2% decline in net profit to $38.6 million.
Nuix Ltd (ASX: NXL)
The Nuix share price is down 12.5% to $1.39. Investors have been selling this software company's shares following the release of its FY 2023 results. Nuix reported a 14.5% increase in annualised contract value (ACV) to $185.5 million and a loss after tax of $5.6 million. Management is guiding to ~10% ACV growth in FY 2024.
Telstra Group Ltd (ASX: TLS)
The Telstra share price is down over 2% to $4.16. Although Telstra released a strong full-year result this morning, its guidance for the year ahead was a bit softer than expected. Goldman Sachs said: "Mid-point of FY24 guidance marginally below GSe/consensus, with capex also higher on international investments." In addition, the company revealed that it will keep its InfraCo fixed business for the time being. This divestment was seen as a good way to unlock value for shareholders.
