Why Brainchip, Healius, Latin Resources, and Praemium shares are sinking today

These ASX shares are having a tough time on hump day.

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The S&P/ASX 200 Index (ASX: XJO) is having a mixed day. In afternoon trade, the benchmark index is down 0.1% to 7,070.9 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 5% to 18.5 cents. This morning, this struggling semiconductor company announced that its co-founder and chief technology officer, Peter Van der Made, will be stepping down at the end of the year.

Healius Ltd (ASX: HLS)

The Healius share price is down 34% to $1.20. This follows the completion of the institutional component of the healthcare company's capital raising. Healius has raised a total of approximately $154 million at $1.20 per new share. The proceeds from the entitlement offer will be used to reduce its net debt and reset its balance sheet with appropriate gearing.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price is down 8% to 19.25 cents. This is despite the lithium explorer announcing the discovery of a third spodumene occurrence at the Colina Deposit from the 100% owned Salinas Lithium Project in Argentina. Though, it is worth noting that most ASX lithium shares are falling today.

Praemium Ltd (ASX: PPS)

The Praemium share price is down 31% to 40 cents. This investment platform provider's shares have come under pressure today after it released a disappointing trading update at its annual general meeting. Management advised that it expects to post a 20% decline in EBITDA for the first half of FY 2024.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Praemium. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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