In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.25% to 8,826.6 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is down over 4% to $1.97. This appears to have been driven by weakness in the uranium industry which has offset the release of an announcement today. That announcement confirms it has completed its leadership change after CEO, Duncan Craib, stepped down from the role on 30 September. He has been replaced by Matthew Dusci, who was previously its chief operating officer. Dusci said: "It will be a great privilege to lead Boss. My immediate focus is on delivering the operational review previously announced, along with safely achieving our FY26 production guidance from the Honeymoon operation of 1.6M lbs. Creating value for shareholders in the years ahead is a priority as we seek to capitalise on the opportunities Boss has within its global asset portfolio."
Nick Scali Limited (ASX: NCK)
The Nick Scali share price is down over 2% to $22.81. This has been caused by the furniture retailer's shares going ex-dividend this morning for its final dividend of FY 2025. When Nick Scali released its results in August, it declared a fully franked final dividend of 33 cents per share. This was flat on the prior corresponding period. Eligible shareholders can now look forward to receiving this late this month on 28 October.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is down 7% to $2.34. Investors have been selling down ASX lithium stocks on Wednesday after Chinese authorities approved a reserve report from a major lithium producer. This has eased concerns around output disruptions in the country, contributing to expectations of continued lithium price pressure from oversupply.
VEEM Ltd (ASX: VEE)
The VEEM share price is down 4.5% to $1.78. This appears to have been driven by the release of a broker note out of Ord Minnett this morning. The marine, defence, and mining industries products developer's shares have been downgraded to a hold rating from buy with a trimmed price target of $1.75 (from $1.90). It made the move after management provided earnings guidance for the first half which was materially below expectations. And while its performance is expected to improve in the second half, Ord Minnett doesn't believe it will be enough to achieve its expectations for FY 2026.
