Why Brainchip, Origin, Sayona Mining, and Stanmore shares are sinking today

These ASX shares are starting the week in the red.

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The S&P/ASX 200 Index (ASX: XJO) is starting the week very positively. In afternoon trade, the benchmark index is up 1% to 7,146 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 10% to 18.5 cents. Investors have been hitting the sell button after the semiconductor company diluted shareholders further with another capital raising. However, it seems that investment banks and institutional investors believe Brainchip isn't investment grade. As a result, the company is having to raise the funds through another Put Option Agreement with LDA Capital. This agreement essentially sees LDA Capital sell newly created shares on-market on behalf of the company instead of holding onto them.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is down 3% to $7.92. The market appears convinced that the Brookfield/EIG takeover proposal will be rejected by shareholders at its scheme meeting today. AustralianSuper, the energy giant's largest shareholder, intends to vote against the proposal.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down 6.5% to 5.8 cents. Investors have been selling Sayona Mining and other ASX lithium shares again on Monday amid concerns over falling lithium prices. This latest decline means that Sayona Mining's shares are now down 75% over the last 12 months and at a new 52-week low.

Stanmore Resources Ltd (ASX: SMR)

The Stanmore Resources share price is down 10% to $3.67. This has been driven partly by the coal miner's shares going ex-dividend today. Last week, the company announced a special fully franked 5.8 US cents (8.8 Australian cents) per share dividend. This will be paid to shareholders on 14 December.

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 no position in any of the stocks mentioned. 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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