Why Brainchip, Cettire, Star, and Woolworths shares are being sold off today

These shares are having a difficult time on hump day. But why?

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The S&P/ASX 200 Index (ASX: XJO) is having a relatively poor session on Wednesday. At the time of writing, the benchmark index is down 0.3% to 8,221.6 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 over 4% to 22 cents. Investors have been hitting the sell button today after the semiconductor company delivered another poor quarterly update. The $400 million+ company achieved cash receipts of just US$45,000 for the three months. Whereas it spent a total of US$3.4 million to generate these cash receipts. You would get a better return from a savings account.

Cettire Ltd (ASX: CTT)

The Cettire share price is down a further 8% to $1.62. Investors have been selling this online luxury products retailer's shares since the release of a disappointing first quarter update on Tuesday. Although Cettire's sales revenue rose 22% to $155 million, its adjusted EBITDA came in at just $2 million for the three months. This is down a sizeable 77% on the $8.7 million recorded in the prior corresponding period. This morning, Bell Potter downgraded its shares to a speculative hold rating with a $2.00 price target.

Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is down 11% to 23.5 cents. This follows the release of the casino and resorts operator's quarterly update. For the three months ended 30 September, the company posted an 18% decline in revenue to $351 million and an EBITDA loss of $18 million. Commenting on the quarter, management said: "There continues to be a deterioration in operating performance from a challenging operating environment and the continued implementation of mandatory carded play and cash limits."

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is down 6% to $30.93. Investors have been hitting the sell button after the supermarket giant's first quarter update disappointed. Woolworths reported a 4.5% increase in group sales over the prior corresponding period to $18 billion. However, it warned that Australian Food EBIT for the first half is forecast to be below its previous expectations. It currently expects "H1 F25 EBIT, including $40 million of incremental supply chain costs, to be within a range of $1,480 million to $1,530 million compared to $1,595 million in H1 F24." The market appears concerned that Woolworths is sacrificing margin to boost its market share.

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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