The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Wednesday. At the time of writing, the benchmark index is up 0.9% to 8,204.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is down 2% to $1.50. This is despite there being no news out of the gold developer today. However, it is worth noting that Bellevue Gold's shares have been on fire in recent weeks. So much so, they remain up 32% since this time two months ago. This could mean that some investors are taking a bit of profit off the table today.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price is down almost 7% to $2.84. Investors have been selling this property listings company's shares following the release of an update at its annual general meeting. Domain revealed that it delivered solid depth revenue growth of 15% year-on-year during the first quarter. This underpinned total residential revenue growth of 12%. Whereas Digital revenue was up around 9% year-on-year. This ultimately led to total revenue increasing around 8% year-on-year according to management. Pleasingly, October new listings growth has continued to accelerate, underpinning year-on-year depth revenue growth of 19% on a like-for-like basis. Margin guidance has also been reiterated. Despite all this, it seems that some investors wanted more from Domain.
Skycity Entertainment Group Ltd (ASX: SKC)
The Skycity share price is down 5% to $1.22. This casino and resorts operator's shares are falling today despite there being no news out of it. Though, it is worth noting that its shares have been under pressure for some time. So much so, they are now trading within a whisker of a multi-year low. This means they are now down by a disappointing 30% over the past 12 months.
Wildcat Resources Ltd (ASX: WC8)
The Wildcat Resources share price is down 2.5% to 31.2 cents. This is also despite there being no news out of the lithium developer. However, quite a lot of lithium shares are missing out on the market rally today. This appears to have been driven by a relatively subdued session on Wall Street for miners of the battery making ingredient. Following today's decline, Wildcat shares are now down by over 50% since the start of 2024.
