In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.95% to 8,716.2 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price is down 30% to $2.29. Investors have been hitting the sell button today after insiders sold down their holdings. This includes its CEO, Oleg Vornik, offloading approximately 14.8 million shares through an on-market for $49.5 million. But it is worth remembering that he retains a significant amount of vested and unvested equity in the business. As a result, it is fair to say that his interests remain firmly aligned with shareholders.
Graincorp Ltd (ASX: GNC)
The Graincorp share price is down 10% to $8.01. This follows the release of the grain exporter's full year results. Graincorp posted a net profit after tax of $40 million, which is down 35% from $62 million a year earlier. The company's managing director and CEO, Robert Spurway, commented: "Disciplined planning and focused execution enabled GrainCorp to deliver a resilient FY25 result, as we responded effectively to a challenging global margin environment."
Webjet Group Ltd (ASX: WJL)
The Webjet Group share price is down 21% to 68.5 cents. This follows the release of a trading update from the online travel booker. Webjet revealed that revenue is expected to be down 1% to $67.9 million in the first half, with underlying EBITDA falling 9% to $14.4 million. Webjet's CEO, Katrina Barry, said: "The subdued near-term outlook for the business has not altered our focus on delivering sustainable long-term growth. Whilst market conditions and performance have become challenging in the past few months, our strategy and long-term growth trajectory remain unchanged. Near-term market conditions impact timing, but not the underlying strength of our business or the value creation opportunity ahead. We remain confident that our FY30 Strategic Plan is the right path to maximise shareholder value."
Xero Ltd (ASX: XRO)
The Xero share price is down almost 6% to $131.89. This is despite the cloud accounting platform provider delivering a strong half year result this morning. Xero posted a 20% increase in operating revenue to NZ$1,194 million and a 21% jump in EBITDA to NZ$377.9 million. Xero's CEO, Sukhinder Singh Cassidy, said: "Xero's H1 FY26 results reinforce our ability to deliver as we continue to do what we said we would do, in line with our strategy. We have demonstrated strong momentum, with our portfolio of large markets and our products contributing to our macro-resilient growth."
