The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday and dropping into the red. In afternoon trade, the benchmark index is down 0.65% to 8,793 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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4DMedical Ltd (ASX: 4DX)
The 4D Medical share price is down 24% to $1.76. This is despite there being no news out of the respiratory imaging technology company. However, with its shares more than doubling in value this month prior to today, it is quite likely that some profit taking is happening. Investors had been fighting to get hold of its shares after its ventilation-perfusion product, CT:VQ, received U.S. Food and Drug Administration (FDA) 510(k) clearance. In addition, a second announcement revealed that the U.S. Centers for Medicare & Medicaid Services (CMS) have confirmed that reimbursement for the software falls under Category III Current Procedural Terminology (CPT) codes 0721T and 0722T, and will be paid at US$650.50 per scan, effective immediately. And a third announcement revealed agreements with national lung screening sites.
BlueScope Steel Ltd (ASX: BSL)
The BlueScope Steel share price is down 2% to $22.31. This has been driven by the steel producer's shares going ex-dividend today. Last month, BlueScope released its full year results and declared a partially franked final dividend of 30 cents per share. This will be paid to eligible shareholders next month on 14 October.
Electro Optic Systems Holdings Ltd (ASX: EOS)
The Electro Optic Systems share price is down 2% to $7.38. This decline appears to have been caused by a combination of broad market weakness and profit taking from some investors. After all, the space and defence company's shares remain up almost 50% since this time last month despite today's slide. And year to date, the EOS share price is up more than a staggering 450%. A series of big defence contract wins has put a rocket under its shares.
Spark New Zealand Ltd (ASX: SPK)
The Spark New Zealand share price is down almost 4% to $2.25. This is also due to the New Zealand telco's shares going ex-dividend today. Last month, the company released its FY 2025 results and declared a final dividend of 11 cents per share. Eligible shareholders will be paid this at the start of next month on 3 October.
