The S&P/ASX 200 Index (ASX: XJO) is out of form and sinking into the red on Tuesday. At the time of writing, the benchmark index is down 0.6% to 8,819.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are tumbling:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is down 7% to $4.46. This is despite there being no news out of the medical technology company. However, with its shares up almost 700% since this time last year, there could be some profit taking going on today. In addition, last week, 4DMedical raised $150 million through an institutional placement. Those shares are expected to be issued later this week on 22 January.
ARB Corporation Ltd (ASX: ARB)
The ARB share price is down 11.5% to $28.59. Investors have been selling this 4×4 automotive parts company's shares following the release of a trading update. ARB revealed that unaudited sales revenue for the first half was $358 million. This is down 1% on the prior corresponding period. Things were worse for its earnings due to margin weakness. ARB advised that it expects to report underlying profit before tax of approximately $58 million for the half. This represents a 16.3% decline compared with the prior year.
Inghams Group Ltd (ASX: ING)
The Inghams share price is down 5.5% to $2.51. This may have been driven by a broker note out of Macquarie Group Ltd (ASX: MQG). According to the note, the broker has downgraded the poultry producer's shares to an underperform rating with a reduced price target of $2.20. This implies potential downside of 12% from current levels. The broker believes that Inghams could fall short of expectations in FY 2026 due to cautious consumers. In addition, it highlights that a competitor could put pressure on pricing when its new facility comes online later this year.
Qoria Ltd (ASX: QOR)
The Qoria share price is down 30% to 34.5 cents. This follows the release of the digital safety company's quarterly update. The company revealed that it exited the quarter with annualised recurring revenue (ARR) of $149 million, which is up 19% year on year. It also reported cash receipts of $79.1 million, which was up 20% on the prior corresponding period. Despite this, it still recorded negative free cash flow for the quarter.
