The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday. In afternoon trade, the benchmark index is down slightly to 8,103.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Cettire Ltd (ASX: CTT)
The Cettire share price is down 2.5% to $1.37. This appears to have been driven by profit taking from some investors after the online luxury product retailer's shares rocketed 30% higher on Monday. One leading broker that still sees plenty of room for its shares to keep rising is Bell Potter. Yesterday, its analysts put a buy rating and $2.00 price target on Cettire's shares. It said: "We continue to see plenty of upside in revenue/earnings from 3Q25 onwards considering overall improving demand conditions and benefits in CTT's lean business model, however with a higher near term risk profile priced into the name at current levels. Given the uncertainties ahead as the company resolves audit issues, we rate the stock as Speculative Buy."
Liontown Resources Ltd (ASX: LTR)
The Liontown Resources share price is down 2.5% to 69.2 cents. Investors have been selling Liontown and other ASX lithium stocks on Tuesday. This may have been driven by further weakness in Chinese lithium prices overnight. In addition, news that lithium giant Tianqi Lithium has swung to its first loss in four years due to weak prices may have spooked investors.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is down over 3% to $34.67. This has been driven by the supermarket giant's shares going ex-dividend for its final dividend for FY 2024. Last month, the company released its full year results and posted a 3.7% increase in normalised sales to $67.92 billion but a 3% decline in net profit after tax (before significant items) to $1.71 billion. This saw Woolworths declare a fully franked final dividend of 57 cents per share and also a fully franked 40 cents per share special dividend. Both of these dividends will be paid to eligible shareholders at the end of the month on 30 September.
Zip Co Ltd (ASX: ZIP)
The Zip share price is down 3% to $2.23. This may have been caused by news that one of the buy now pay later provider's executives has been selling shares. According to a change of director's interest notice, John Batistich sold 250,000 Zip shares through an on-market trade on 28 August. The director received a total consideration of $592,024.01. This equates to an average selling price of approximately $2.37 per share.
