Why Capricorn Metals, Core Lithium, Life360, and Mesoblast shares are dropping today

These ASX shares are having a tough time on Tuesday.

| More on:
A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday. In afternoon trade, the benchmark index is down 1.1% to 7,046.9 points.

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

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is down over 8% to $4.46. Investors have been selling this gold miner's shares due to a pullback in the gold price and some heavy insider selling. In respect to the latter, Capricorn Metals' executive chair Mark Clark sold $23 million of shares, whereas non-executive director Mark Okeby sold $9.2 million of shares.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 9% to 23.2 cents. Investors have been selling lithium shares again on Tuesday following a selloff on Wall Street. For example, lithium giant Sociedad Quimica y Minera de Chile SA (NYSE: SQM) tumbled 8% on the NYSE overnight. Falling lithium prices appear to be behind this.

Life360 Inc (ASX: 360)

The Life360 share price is down 4% to $7.47. This also appears to have been driven largely by some insider selling. According to the release, Life360 co-founder and CEO Chris Hulls has sold US$4 million (A$6 million) worth of shares. Hulls plans to diversify his holdings over the next five years in line with US market norms.

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down 22% to 31.7 cents. This has been driven by the biotechnology company raising funds again. Mesoblast revealed that it has received firm commitments for an institutional placement and entitlement offer to raise $55 million at a 26% discount of $0.30 per new share. It will now seek to raise a further $42 million from retail shareholders at the same price.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. 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.

More on Share Fallers

A young man goes over his finances and investment portfolio at home.
Growth Shares

1 ASX growth stock down 30% to buy right now

The market has reacted badly to this ASX 200 company's half-year result. This could be your chance to get in.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Flight Centre, Fortescue, Kelsian, and Neuren shares are dropping today

These ASX shares are being hit hard on Wednesday. But why?

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Brainchip, DGL, Weebit Nano, and Zip shares are dropping today

These ASX shares are being hit hard on Tuesday. But why?

Read more »

A man and a woman sit in front of a laptop looking fascinated and captivated.
Share Fallers

This ASX All Ords stock's founders just sold 40 million shares, and the stock dove 14%

This All Ords share's founders just cashed out $30 million.

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Nanosonics, NIB, Santos, and TPG shares are falling today

These ASX shares are starting the week in the red.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Accent, Austal, Newmont, and Sandfire shares are plunging today

These ASX shares are ending the week in the red. But why?

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Clinuvel, Medibank, Sayona Mining, and Tabcorp shares are sinking today

These ASX shares are out of favour with investors on Thursday. But why?

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Corporate Travel Management, Iress, Rio Tinto, and Woolworths shares are crashing

These ASX shares are being sold off on Wednesday. But why?

Read more »