Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Cettire Ltd (ASX: CTT)

The Cettire share price is down 24% to 34 cents. Investors have been selling this online fashion retailer's shares amid concerns that it could go bust. This morning, Cettire reported a modest decline in sales revenue to $382.8 million and a net loss of $1.1 million. The company also included a going concern statement in its financial accounts, acknowledging a major net current asset deficiency. It said: "The net current asset deficiency and the net loss after tax for the current period gives rise to a material uncertainty in relation to going concern that may cast significant doubt on the Group's ability to continue as a going concern and to realise its assets and settle its liabilities in the ordinary course of business. Despite these material uncertainties, the directors have considered the performance and position of the Group and consider that the going concern basis is appropriate."

Objective Corporation Ltd (ASX: OCL)

The Objective Corporation share price is down 7% to $12.91. This follows the release of the information technology software and services provider's half-year results. Objective Corp posted a 9% lift in revenue to $66.7 million and a 10% increase in net profit after tax to $18.7 million. The company also revealed annualised recurring revenue (ARR) growth of 12% to $120 million. However, this is short of its 15% ARR target.

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is down 9% to $9.71. This is despite the airline operator releasing its half-year results and revealing a profit before tax ahead of consensus expectations. Thanks to growth across the business, Qantas delivered a 6.3% increase in revenue to $12.9 billion. This underpinned a 5.1% increase in underlying profit before tax to $1,456 million, which was around 2% ahead of consensus estimates. A fully franked interim dividend of 19.8 cents per share was declared. This is up 20% on the prior corresponding period.

Worley Ltd (ASX: WOR)

The Worley share price is down 10% to $11.77. This morning, the professional services company reported aggregated half-year revenue of $6,312 million, up 5.4% on the prior corresponding period. However, underlying NPATA was down 4.2% to $207 million and statutory NPATA was down 29.6% to $152 million.

The post Why Cettire, Objective Corp, Qantas, and Worley shares are falling today appeared first on The Motley Fool Australia.

Cettire shares were changing hands for 36.5 cents on Thursday, down 18.9% on the day and well down on the high-water mark over the past 12 months of $1.14.

The company reported sales revenue of $382.8 million, down from $394 million for the previous corresponding period, and a net loss of $1.1 million, down from a $4.7 million profit.

Warning signs

The company also included a "going concern" statement in its financial accounts, warning that its net current asset deficiency – its net current assets versus liabilities, which will fall due within 12 months – was $51.6 million in the red.

The accounts went on to say:

The net current asset deficiency and the net loss after tax for the current period gives rise to a material uncertainty in relation to going concern that may cast significant doubt on the Group's ability to continue as a going concern and to realise its assets and settle its liabilities in the ordinary course of business. Despite these material uncertainties, the directors have considered the performance and position of the Group and consider that the going concern basis is appropriate.

This view was based on several reasons, including the fact that the company had a net operating cash flow of $37.1 million and cash and cash equivalents of $61.4 million.

US law changes are not helping

Commenting on the first half result, chief executive officer Dean Mintz said it had been a challenging period.

The global luxury market has continued to face headwinds throughout H1-FY26, with persistent inflation pressure and subdued consumer confidence. Despite this backdrop, we have remained focused on executing our plan to grow Cettire's share of the global personal luxury goods market while remaining self-funding. During the half year, the impact from the removal of the de minimis exemption in the US contributed to ongoing challenges in our largest market. Notwithstanding this, the overall business was broadly stable year on year, supported by strong growth in regions outside of the US, which grew 13% year on year, further diversifying our global business.

The de minimis exemption was a loophole in US customs law that exempted goods valued at less than US$800 from duties and taxes.

Mr Mintz said on an underlying basis, the business had achieved a significant turnaround of more than $20 million in EBITDA, which was also a positive.

Regarding the outlook, the company said the global luxury trade remained uncertain, and its third-quarter gross revenues to date were down 13%, due to less promotional activity this year.

Cettire said it expected full-year sales revenue to be broadly similar to FY25.

The post This luxury ASX retailer's shares are being slammed after the books sank into the red appeared first on The Motley Fool Australia.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) is up 0.3% while the S&P/ASX 200 Index (ASX: XJO) is up 0.5%.

Meantime, brokers have revealed two ASX retail shares to buy and two to sell.

Let's take a look.

Nick Scali Ltd (ASX: NCK) 

The Nick Scali share price is $19.14, up 3.9% on Tuesday and up 8.6% over the past 12 months.

The furniture retailer reported a 36% increase in profit in its 1H FY26 results last week.

Nick Scali revealed a 7.2% year-on-year increase in revenue to $269.3 million and an 18.8% uplift in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $96.6 million.

The statutory net profit after tax (NPAT) was $41 million, and there was a 14.1% improvement in gross margin to 59.2%.

Nick Scali announced a fully-franked interim dividend of 39 cents per share, up 30% on 1H FY25.

Bell Potter said first-half NPAT came in 11% above expectations.

The broker retained its buy rating on the ASX retail share but lowered its 12-month share price forecast by 11% to $25 "due to softer growth into the second half, earnings revisions and the rising interest rate environment".

Breville Group Ltd (ASX: BRG)

The Breville share price is $32.17, down 0.5% on Tuesday and down 13% over the past 12 months.

The white goods manufacturer released its 1H FY26 results last week.

The company revealed a 10.1% increase in total sales revenue to $1,098.7 million.

EBITDA grew by 2.9% to $182.8 million and NPAT lifted 0.7% to $98.2 million.

Breville announced a fully-franked interim dividend of 19 cents per share, up from 18 cents in 1H FY25.

Following the report, Morgans maintained a buy rating on this ASX retail share.

The broker commented:

1H26 was better-than-feared, with double-digit sales growth (+10%) largely offset by tariff costs (~130bp GM impact) to deliver a flat NPAT outcome (+1% on pcp).

Crucially, FY26 EBIT growth guidance provides much-needed earnings visibility, alleviating some concerns for an extended transition year and improving our confidence for a resumption of sustainable EPS growth from FY27+.

We continue to be impressed by BRG's strong operational execution, green shoots in Food Prep, and powerful medium-term tailwinds (geographic expansion, espresso tailwinds, NPD, Best Buy developments).

Collins Foods Ltd (ASX: CKF)

The Collins Foods share price is $10.14, up 1.2% today and up 24% over the past 12 months.

On The Bull this week, Michael Gable from Fairmont Equities revealed a sell rating on the KFC franchise owner.

Gable explained:

We expect cost pressures to hit margins. Cost of living pressures and rising interest rates in Australia may pressure sales.

The company delivered group revenue and statutory net profit after tax growth in the first half of 2026 when compared to the prior corresponding period.

However, market reaction to the result has been negative.

The shares have fallen from $11.60 on December 1, 2025 the day prior to the half year result, to trade at $10.425 on February 12, 2026.

Share price rallies are followed by selling pressure, a sign that investors are seeking out other opportunities.

Cettire Ltd (ASX: CTT)

ASX retail share Cettire is trading at 48 cents apiece, down 2% today and down 60% over the past 12 months.

Cettire will release its 1H FY26 results next Thursday.

Christopher Watt from Bell Potter Securities reckons the luxury goods online retailer is a sell.

Watt explained:

Fiscal year 2025 was challenging in response to a slowdown in demand, macroeconomic headwinds and a heightened competitive environment.

The company posted a statutory net loss after tax of $2.6 million.

The shares have fallen from $4.66 on February 12, 2024 to trade at 51 cents on February 12, 2026.

In our view, the lack of near term catalysts suggest elevated risk, particularly if macroeconomic headwinds dampen luxury demand. 

The post ASX retail shares: Experts rate 2 to buy and 2 to sell appeared first on The Motley Fool Australia.

So, after recent share price falls, is Cettire worth a look?

The Melbourne-based online retailer offers consumers access to over 2,500 luxury brands, such as Versace, Gucci and Dolce & Gabbana, by sourcing supply through a grey-market approach. This drop-shipping model means it holds no inventory, enabling it to manage costs and scale rapidly.

In 2020, this cost-effective model and strong tailwinds in the online retail sector generated significant market buzz. However, this hasn't translated to the profit results investors were hoping for.

For some investors, a history of strong revenue growth, a solid repeat customer base, and consistent momentum in the online retail sector all leave potential for a turnaround.  For others, the headwind of US tariffs, inconsistent profitability and demand volatility in the luxury goods market put it out of contention.

FY25 saw Cettire swing to a loss  

In FY25, Cettire posted gross revenue of $975.3 million, stable against $978.3 million in FY24. Profitability, however, declined sharply, from $10.5 million in net profit after tax in FY24 to a net loss after tax of $2.6 million. And while it continued to hold no financial debt, Cettire's cash position dropped from $79 million in FY24 to $37.1 million.

In the FY25 Annual Report, Cettire Founder & CEO, Dean Mintz, pointed to several headwinds contributing to the results, including persistent inflation, trade and geopolitical tensions, consumer price fatigue, and general financial market volatility.  

He went on to highlight that the greatest opportunities moving forward lie in increased penetration and a localisation strategy:

Right now, the greatest growth opportunity for Cettire continues to be driving increased penetration within our existing category and geographic footprint, further strengthening our overall scale as well as diversification. Cettire's localisation strategy is a critical enabler of this opportunity. recent developments in US trade policy have re‑affirmed our conviction in the localisation strategy, which provides the platform to drive revenues beyond the U.S. market.

And this makes sense. Emerging markets accounted for 37% of Cettire's gross revenues in FY25, and Asian and Middle Eastern regions were reported to have delivered 'outsized growth', with successful launches in Kuwait and Bahrain, two markets that remain strong consumers of luxury goods despite overall sector decline.

It's worth noting that upon the release of this report, Mintz and CFO Tim Hume both received salary increases. Cettire's Change to Executive Remuneration Terms, released on 29 August 2025, cited the company's significant growth in scale and complexity and no 'material amendments' to remuneration in the five years prior.

So what's happened since?

In Q1 FY26, Cettire reported gross revenue of $196.7 million, a 1% decrease on the prior corresponding period (PCP). In addition, its active customer base fell 8% against the PCP. That said, repeat consumers accounted for 68% of gross revenue, indicating an engaged customer base. 

It will be interesting to see if indicators are more promising in its next update, expected by mid to late February 2026.

Is Cettire a buy right now?

For me, it's not a buy as it stands. It has some potential for a turnaround if its localisation strategy is well-executed. However, Cettire's FY25 results, a challenging market and the decision to increase executive salaries in this climate leave me wary.

Of course, it's possible that Cettire outperforms from here. But in my view, it's a play best only considered by investors with a deep understanding of the luxury goods market who can see a clear pathway to profitability.

The post Dressed for success or fashion fail: Is Cettire a buy right now? appeared first on The Motley Fool Australia.

At the time of writing, the ASX tech stock is down 6% to 68 cents.

Why is this ASX tech stock sinking?

The catalyst for today's move has been the release of the online luxury products retailer's first quarter update before the market.

According to the release, gross revenue was down 1% on the prior corresponding period to $196.7 million and sales revenue was down 3% to $150.4 million. Cettire notes that gross revenue is revenue net of sales taxes but before customer refunds, whereas sales revenue is gross revenues net of allowances and customer refunds.

Cettire's weaker revenue reflects difficult trading conditions in the key US market, which was partially offset by growth in other markets.

In addition, the ASX tech stock's average order value increased 17% to $907, which helped offset an 8% decline in active customers 640,654.

Gross revenue from repeat customers represented 68% of total revenue. This is up 1 percentage point on the prior corresponding period.

Commenting on the company's performance during the quarter, its founder and CEO, Dean Mintz, said:

Despite the challenging industry backdrop, we have remained focused on executing our plan to profitably grow Cettire's share of the global personal luxury goods market. The Company has continued to deliver on its long-term strategy by growing its supply chain, further enhancing its technology platform and building the team.

The Company's ongoing localisation initiatives have further diversified our revenue. While the USA continues to experience some headwinds related to a softer consumer environment and changes in trade policy, Cettire's business outside of the USA experienced strong sales acceleration in the quarter, with gross revenue increasing 18% year-on-year (Q4 FY25: -1%).

Mintz also revealed that its margins have improved since the fourth quarter of FY 2025. This was driven by improvements in its marketing efforts, which ultimately led to the ASX tech stock recording positive adjusted EBITDA of $2.5 million for the three months.

This is a significant improvement on the previous quarter and led to Cettire ending the period with a net cash balance of $37.7 million.

Outlook

Commenting on the company's outlook, Mintz said:

In the short term, there continues to be uncertainty within the global personal luxury goods market, with softer demand and volatility in daily sales persisting, particularly within the USA, Cettire's largest market. The Company is continuing to focus on further geographic diversification of its revenue base, underpinned by its localisation strategy. Cettire remains relentlessly focused on its strategy to grow profitably while self-funding. Its immediate objective is to deliver ongoing profitability in Q2.

Cettire shares are down almost 70% over the past 12 months.

The post ASX tech stock sinks 6% following mixed Q1 update and continued 'uncertainty' appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Boss Energy Ltd (ASX: BOE) remains the Australian share market's most shorted share for another week despite its short interest easing to 20%. The uranium producer's guidance for FY 2026 fell well short of expectations and its guidance beyond this remains unclear.
• Paladin Energy Ltd (ASX: PDN) has short interest of 17.7%, which is down week on week again. This could be due to concerns over the ramp up of its Langer Heinrich Mine.
• Pilbara Minerals Ltd (ASX: PLS) has seen its short interest rise to 16.2%. Short sellers are betting on lithium prices staying lower for longer.
• IDP Education Ltd (ASX: IEL) has 13.8% of its shares held short, which is down week on week. This language testing and student placement company's shares rocketed last month after it released its results for FY 2025.
• Polynovo Ltd (ASX: PNV) has 12% of its shares held short, which is flat week on week. Unfortunately for short sellers, this medical device company's shares have surged this month amid big news out of the US.
• Mineral Resources Ltd (ASX: MIN) has short interest of 11.8%, which is flat week on week. This appears to have been driven by concerns over the mining and mining services company's precarious balance sheet and weak commodity prices.
• Cettire Ltd (ASX: CTT) has jumped back into the top ten with 10.5% of its shares held short. This online luxury products retailer is struggling due to tax changes in the US and weak trading conditions.
• PWR Holdings Ltd (ASX: PWH) has short interest of 10.3%, which is up week on week. This motorsport products disappointed with its full year results last month. And with another transition year expected in FY 2026, short sellers appear to smell blood.
• Domino's Pizza Enterprises Ltd (ASX: DMP) is back in the top ten with short interest of 10.1%. Short sellers don't appear to believe that the worst is over for the pizza seller.
• Corporate Travel Management Ltd (ASX: CTD) has short interest of 9.8%, which is flat week on week. This corporate travel specialist's shares have been out of action since 22 August after becoming "aware that a material correction will need to be made to certain aspects of the Company's previous financial statements."

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

The surging stock in question is online luxury goods retailer Cettire Ltd (ASX: CTT).

Cettire shares closed yesterday at 30 cents. In late morning trade on Friday, they are changing hands for 35 cents apiece, up 16.7%.

Cettire shares have been trading record lows amid a slowing luxury goods market and material import tax increases in the United States, the company's largest market.

Indeed, many investors expected the ASX 300 stock to continue its downward slide. Cettire kicked off the week as the tenth most shorted on the ASX with a short interest of 8.7%.

But following the release of the company's full-year financial results (FY 2025) this morning, those short sellers may have to rethink their positions.

Here's what's happening.

ASX 300 stock rebounds on resilient revenue

Cettire shares look to be racing higher after the company managed to delivered revenue broadly in line with FY 2024, despite what it described as challenging conditions with softening in consumer demand for luxury goods across most geographies.

Over FY 2025, the ASX 300 stock delivered gross revenue of $975.3 million and sales revenue of $742.1 million.

The company saw the number of its active customers decline by 5% over the 12 months to 657,000.

In a positive trend, Cettire's repeat customers in FY 2025 accounted for 68% of the company's gross revenue, up from 61% the prior year. And the average order value over the year increased by 3% to $820.

Still, earnings got walloped, with the ASX 300 stock reporting adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $300,000 during the year, down from $32.5 million in FY 2024.

The company said the earnings hit was primarily driven by the reduction in delivered margin, which slipped 4.4% amid increased promotional discounts during the year. Cettire's adjusted EBITDA was also impacted by a realised foreign exchange loss of $5.5 million.

On the bottom line, Cettire reported a statutory net loss after tax of $2.6 million, down from the $10.5 million profit in FY 2024.

The company ended the year holding cash of $37.1 million, with zero financial debt.

What did management say?

Commenting on the results sending the ASX 300 stock flying higher today, Cettire founder and CEO Dean Mintz said:

The global luxury market faced significant headwinds throughout FY25 contributing to a slowdown in demand, including persistent inflation and the flow through impact to reduced consumer spending as well as growing trade and geopolitical tensions.

Despite the challenging backdrop, we have remained focused on consistent execution against our plan to grow Cettire's share of the global personal luxury goods market profitably.

What's next for the ASX 300 stock?

Looking at what could impact Cettire shares in the year ahead, the ASX 300 stock said it had implemented a series of cost initiatives, including freight costs and merchant fees, to streamline its operations and position it for improved profitability in FY 2026.

Mintz noted:

As demand improves and we continue to invest in scaling the business, I remain incredibly confident in our ability to drive significant profitable growth in the future. We have an unparalleled business model which is well placed to navigate the challenges presented by current market conditions.

The post Guess which ASX 300 stock is defying short sellers and surging 17% today! appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Boss Energy Ltd (ASX: BOE) continues to be the most shorted ASX share after its short interest climbed to 22.8%. This uranium producer's shares have been under significant pressure since its guidance for FY 2026 fell materially short of expectations.
• Paladin Energy Ltd (ASX: PDN) has seen its short interest rise again to 18.5%. Concerns over the ramp up of the uranium miner's Langer Heinrich Mine could be behind this.
• Pilbara Minerals Ltd (ASX: PLS) has seen its short interest remain flat at 15.1%. While lithium prices have rebounded recently, short sellers seem to believe that this will be short-lived.
• IDP Education Ltd (ASX: IEL) has 14.1% of its shares held short, which is up week on week. Later this week, this language testing and student placement company is releasing its results and is expected to post a sharp decline in profits.
• Polynovo Ltd (ASX: PNV) has 11.6% of its shares held short, which is up week on week again. Short sellers appear to believe that this medical device company's shares are overvalued at current levels. Its results are due to be released today.
• Lifestyle Communities Ltd (ASX: LIC) has seen its short interest ease slightly to 11.5%. This retirement living company has been battling tough trading conditions caused by negative media coverage and lost a major court battle.
• Mineral Resources Ltd (ASX: MIN) has short interest of 11.5%, which is down week on week again. There are concerns over the state of the miner's balance sheet and its exposure to weak commodity prices.
• Corporate Travel Management Ltd (ASX: CTD) has short interest of 9.8%, which is down week on week. This corporate travel specialist suspended its shares last week after becoming "aware that a material correction will need to be made to certain aspects of the Company's previous financial statements."
• Silex Systems Ltd (ASX: SLX) has seen its short interest tumble to 8.9%. This uranium enrichment technology company recently raised $130 million through a capital raising. Short sellers may have used this as an opportunity to buy shares to close positions.
• Cettire Ltd (ASX: CTT) has returned to the top ten with short interest of 8.7%. This online luxury products retailer has been hit hard by a downturn in the industry and import tax changes in the US. So much so, some short sellers appear to believe its business model is now broken.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

Meanwhile, the brokers have downgraded several ASX All Ords shares to moderate sell ratings.

Some of these ratings are based on valuation. The experts think these shares have gone up too much — beyond their fundamental worth.

Other downgrades are based on company-specific issues.

Sell 'em, say the experts

Here are 8 ASX All Ords shares downgraded over the past month by analysts on the CommSec platform.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $7.21, down 0.35% on Tuesday.

This ASX All Ords large-cap was among 17 shares that soared 100% or more in FY25.

The gold stock has lifted 83% over the past 12 months.

CommSec analysts have a consensus moderate sell rating on Evolution Mining.

Morgans put a trim rating on Evolution shares last month after the miner released its quarterly report and an exploration update.

Computershare Ltd (ASX: CPU)

The Computershare share price is $40.15, down 0.94%.

This ASX All Ords industrial share has risen 59% over the past year.

CommSec analysts have a consensus moderate sell rating on the administrative services company.

Damien Nguyen from Morgans is among the analysts with a sell rating on Computershare.

Nguyen explains:

As we anticipate moving into a lower interest rate environment, earnings growth may come under pressure as its margin income shrinks on client cash balances.

We suggest existing investors who have done well out of CPU to consider selling and rotating into stocks with stronger upside potential.

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is 84 cents, up 1.2% on Tuesday.

The ASX All Ords lithium share has fallen 3.5% over the past 12 months.

CommSec analysts have a consensus moderate sell rating on Liontown.

After reviewing the miner's quarterly update released last week, Morgans kept its sell rating in place.

The broker lifted its 12-month price target to 56 cents, which is well below today's share price.

Helia Group Ltd (ASX: HLI)

The Helia share price is $5.11, up 0.69% on Tuesday.

The ASX All Ords financial share has lifted 38% over the past year.

CommSec analysts have a consensus moderate sell rating on the lenders' mortgage insurer.

Objective Corporation Ltd (ASX: OCL)

The Objective Corporation share price is $19.40 per share, up 1.8%.

The ASX All Ords technology share has risen 55% over the past 12 months.

CommSec analysts have a consensus moderate sell rating on the sports analytics company.

Cettire Ltd (ASX: CTT)

The Cettire share price is steady at 28 cents at the time of writing.

This ASX All Ords consumer discretionary share is down 78% over the past year.

CommSec analysts have a consensus moderate sell rating on the online luxury fashion retailer.

Last week, Cettire shares plummeted after the US announced the end of the de minimis exemption from 29 August.

The Star Entertainment Group Ltd (ASX: SGR)

The Star Entertainment share price is 8.3 cents per share, down 2.35% on Tuesday.

The ASX consumer discretionary stock has fallen 84% over the past 12 months.

CommSec analysts have a consensus moderate sell rating on the casino operator.

Last Friday, the Star Entertainment share price weakened on news that its sale of the Queen's Wharf precinct is off.

Centuria Office REIT (ASX: COF)

The Centuria Office REIT share price is $1.26, up 0.8% on Tuesday.

The ASX All Ords real estate investment trust (REIT) has lifted 3% over the past year.

CommSec analysts have a consensus moderate sell rating on the commercial property owner.

The post 8 ASX All Ords shares just downgraded to a sell rating by experts appeared first on The Motley Fool Australia.

The update was in response to a new Executive Order from the United States overnight.

The Order ends the de minimis exemption on goods manufactured in all nations outside the US, effective 29 August.

The de minimis exemption allowed goods with a dutiable value under US$800 to be imported into the US duty-free.

In May, President Trump ended the exemption for low-value goods from China and Hong Kong only.

Last night's order expands the end of the exemption to all nations.

This is a big problem for Cettire because a lot of its luxury goods, such as clothing and handbags, are made in European Union nations.

Back in April, when President Trump revealed the reciprocal tariffs, they included 20% on goods from the EU.

Cettire issued an update informing investors that 41% of its gross 1H FY25 sales were EU-manufactured goods sold to US customers.

However, it said its average order value in 1H FY25 was US$514 — well under the de minimis exemption price cap.

At the time, there was no change to the de minimis exemption.

This meant many of Cettire's EU products could continue to enter the US duty-free.

That's now changed.

What did the company say?

Cettire shares plunged today after the company said that shipments under the de minimis price threshold represented "the majority of sales to the United States" in May and June.

The company also said that in May and June, which were the first months in which the US imposed a 10% baseline tariff on most goods above US$800 per item from all nations, shipments to the US represented approximately 40% of Cettire's gross revenues.

In a statement, the company said:

Cettire is currently assessing the full implications of these tariff changes on the Company and its global operations, noting that several major luxury brands have indicated they would seek to increase pricing of luxury goods in the US market to mitigate possible tariff changes.

Cettire began identifying strategies to prepare for and mitigate potential changes to the US tariff regime throughout calendar 2024 and year-to-date 2025. The Company's localisation strategy has underpinned a continued broadening of the geographic revenue base, which Cettire expects to continue.

Tough 17 months for Cettire shares

Back in FY23, Cettire shares were riding high.

Cettire recorded the most share price growth of the 500 companies comprising the S&P/ASX All Ordinaries Index (ASX: XAO) in FY23.

The ASX retail stock has since endured a significant fall from grace.

The Cettire share price has declined from a record high of $4.90 on 1 March 2024 to a record low of 25 cents on 13 June, and again today.

A confluence of factors led to an eventual 95% decline in Cettire shares' value from their March 2024 peak.

The decline began in March 2024 after Cettire's founder and CEO, Dean Mintz, sold $127 million in shares.

In April, major investor LHC Capital told its clients it had sold its $362 million worth of Cettire shares.

In June, Cettire released an update saying "the operating environment within global online luxury has become more challenging".

Investors panicked and Cettire shares crumbled 49% on the day to $1.135 apiece.

Further trading updates in late 2024 revealed continually falling profits.

The half-year report in February 2025 revealed adjusted EBITDA of $12.1 million, down 54% compared to $26.1 million in 1H FY24.

The US reciprocal tariffs announcement on 2 April further pummelled Cettire shares.

Cettire's 3Q FY25 update on 23 April revealed an adjusted EBITDA loss of $4.7 million. This included a $2.1 million foreign exchange loss.

An FY25 trading update in June revealed an adjusted EBITDA of just $500,000 for the 11 months to 31 May.

The post Cettire shares tumble 26% to record low on US tariff news appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down over 9% to $1.17. This follows the release of the energy producer's quarterly update this morning. Beach reported a 4% quarter on quarter decline in production to 4.6 million barrels of oil equivalent (MMboe). Management advised that its production was impacted by flooding in the Cooper Basin, which offset higher production from the Otway and Bass basins. This led to total sales revenue falling 17% quarter on quarter to $455 million.

Cettire Ltd (ASX: CTT)

The Cettire share price is down 18% to 28 cents. Investors have been selling this online luxury products retailer's shares following the release of an update on US tariffs. It notes that an Executive Order issued in the United States overnight expands the suspension in the duty free de minimis exemption to goods manufactured in all countries, effective 29 August 2025. In May and June, shipments to the United States represented approximately 40% of Cettire's gross revenues.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down 8% to $11.85. This has been driven by the release of an update on the travel agent giant's full year results. Flight Centre revealed that it expects to report a 3.4% increase in total transaction value (TTV) to a record of approximately $24.5 billion. However, due to a tough fourth quarter, management expects its underlying profit before tax (UPBT) to fall short of guidance at $285 million to $295 million. This compares to its FY 2025 guidance range of $300 million to $335 million. Managing director Graham Turner said: "FY25 has proven to be volatile year for our industry, with geopolitical unrest and macroeconomic concerns slowing the strong post-COVID rebound."

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 6% to $1.62. This appears to have been driven by broad weakness in the lithium industry. Not even a bullish broker note out of Bell Potter has been able to keep its shares in positive territory. The broker has retained its buy rating and $2.00 price target on the lithium miner's shares. It said: "PLS operates a low-cost asset in a tier one jurisdiction, is diversifying through the lithium value chain, and provides a clean exposure to global lithium fundamentals and sentiment. While we expect lithium prices to remain volatile, we hold a robust EV-demand driven long-term market outlook and believe higher prices are required to incentivise new sources of supply."

The post Why Beach Energy, Cettire, Flight Centre, and Pilbara Minerals shares are sinking today appeared first on The Motley Fool Australia.

Christopher Watt from Bell Potter says the 'fundamentals have deteriorated significantly' for Cettire shares.

According to The Bull, the broker has placed a sell rating on the ASX retail stock.

Let's find out more.

ASX retail share's valuation 'significantly slashed'

Recently, we covered in detail the demise of the Cettire share price since early 2024.

It's been a significant fall from grace for this ASX retail share, which was the No. 1 All Ords stock for price growth in FY23.

The online luxury goods retailer was on a fantastic trajectory back then and rose to a record of $4.90 per share on 1 March 2024.

Last month, the ASX retail share hit a 10-year low of 25 cents. That's a dramatic 90%-plus fall from its record high.

Watt explained his rating:

CTT's fundamentals have deteriorated significantly, with weak cash flow, negative EBITDA and near term risks from US tariff exposure and foreign exchange volatility.

Its valuation has been significantly slashed.

While the price now reflects some pessimism, we believe structural concerns around margin pressure remain.

In our view, the stock lacks conviction amid a speculative risk profile. There is no dividend.

Arthur Garipoli of Seneca Financial Solutions also has a sell rating on this ASX retail share.

Garipoli said Cettire's ongoing challenges were highlighted in a softer-than-expected trading update for 3Q FY25.

He also told The Bull:

The company experienced softening demand in its established markets, notably the United States, in the third quarter of fiscal year 2025.

The adjusted EBITDA loss was $4.7 million, including a $2.1 million foreign exchange loss.

What's the latest news from Cettire?

There was a fresh trading update for the ASX retail share released last month.

On 12 June, Cettire provided unaudited numbers for the 2025 financial year-to-date (YTD) ending 31 May 2025.

Cettire said sales revenue was $693.8 million for the 11 months, up 1.7% on the same period in FY24.

The FY25 YTD delivered margin was about 16% amid additional promotions and higher fulfilment costs over the year.

Cettire said its YTD FY25 adjusted EBITDA was $500,000, including an additional $2 million FX loss over April and May.

Cettire's Founder and CEO, Dean Mintz, said:

The operating environment within the global personal luxury goods market since Cettire's Q3 FY25 trading update has remained volatile, with a continued softening of demand in the Company's Established Markets, notably in the US.

Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy. As a result, elevated promotional activity persists across the market.

Mintz said the Cettire team was focused on geographic revenue diversification and improving the delivered margin percentage.

He noted that recent weaker demand in established markets was partially offset by more stable demand in emerging markets.

He said:

The Company's Emerging Markets continue to demonstrate a significant opportunity and Cettire is evaluating a further expansion in its footprint, having launched operations in Kuwait and Bahrain in recent weeks.

What's next for this ASX retail share?

Garipoli is worried that softer global demand and uncertainty over tariffs are not the only reasons behind the declining Cettire share price.

He said:

We're concerned company issues are possibly becoming more structural than cyclical, increasing uncertainty about its performance outlook.

The post ASX retail share whose 'fundamentals have deteriorated significantly': expert appeared first on The Motley Fool Australia.

Arthur Garipoli of Seneca Financial Solutions has slapped a sell rating on two ASX 200 shares that he says have substantial headwinds.

Let's take a look.

Sell these 2 ASX 200 shares: expert

IDP Education Ltd (ASX: IEL)

IDP Education was the worst-performing stock of the ASX 200 in FY25, losing 76% of its value to close at $3.67 yesterday.

Policy uncertainty about international students has led to a loss of investor confidence in this stock.

In May, IDP Education told the market it expects a 28% to 30% fall in student placements and an 18% to 20% fall in language tests in FY25.

That will almost halve the company's EBIT year over year.

Today, the ASX 200 consumer discretionary stock is up 0.27% at $3.68, at the time of writing.

Courtesy of The Bull, Garipoli explains:

The company has been impacted by restrictions on student and other migrant visas across key markets.

Policy uncertainty is expected to continue into fiscal year 2026, which may impact financial performance moving forward. 

While the share price has fallen to reflect the downgrade, we see better opportunities elsewhere.

Cettire Ltd (ASX: CTT)

Garipoli also has a sell rating on Cettire shares.

Last week, we recapped Cettire's 92% fall over 16 months.

The online luxury goods retailer was the No. 1 ASX All Ords stock of FY23 for share price growth at $2.96 per share.

The ASX consumer discretionary stock was on a tear back then, rising to a record $4.90 on 1 March 2024.

Today, the Cettire share price is 36.5 cents.

Garipoli said the company's challenges continue and were highlighted in a softer-than-expected trading update for 3Q FY25.

The company experienced softening demand in its established markets, notably the United States, in the third quarter of fiscal year 2025.

The adjusted EBITDA loss was $4.7 million, including a $2.1 million foreign exchange loss.

Garipoli is concerned that softer demand for luxury goods worldwide and uncertainty over the impact of US tariffs are not the only causes of this ASX 200 retail stock's fall.

He said:

We're concerned company issues are possibly becoming more structural than cyclical, increasing uncertainty about its performance outlook.

Another analyst, Jonathan Tacadena of MPC Markets, also has a sell rating on Cettire shares.

He says: "In our view, the outlook is challenging."

The post 'Better opportunities elsewhere': Fundie names 2 ASX 200 stocks to sell now appeared first on The Motley Fool Australia.

It's been an astounding fall from grace for this ASX retail stock after being the fastest riser of the S&P/ASX All Ordinaries Index (ASX: XAO) in FY23.

The Cettire share price has fallen from a record high of $4.90 on 1 March 2024 to a record low of 25 cents on 13 June this year.

How did that happen?

What on Earth happened to this ASX retail stock?

A string of events heralded the start of a volatile period and overall decline of 92.4% for Cettire shares from the March high last year.

It appeared to begin with investors' dismay over Cettire founder and CEO Dean Mintz selling $127 million worth of shares that month.

Then, controversy sparked by a media report on Cettire's practices relating to duties and taxes led to changes in Australia and the US.

The following month, major investor LHC Capital told its clients it had sold its $362 million worth of Cettire shares due to a "red flag".

In June 2024, Cettire released an update noting that "the operating environment within global online luxury has become more challenging".

Investors panicked, with Cettire shares crashing 49% on the day to $1.135.

Cettire released its unaudited FY24 results on 29 August, reporting a 34% dive in net profit after tax to $10.5 million.

The ASX retail stock crashed 20% on the day to close at $1.06 apiece.

On 2 and 3 September, Mintz took advantage of the weaker Cettire share price, snapping up $15.8 million worth of stock.

He bought the Cettire shares in two tranches for an average $1.2667 and $1.5235 per share.

A brief rally for Cettire shares was short-lived

Cettire shares had a brief rally from late August to 17 October, when they closed at $2.54 apiece.

Then the ASX retail stock reversed course.

A 1Q FY25 update on 29 October sent Cettire shares crashing 17% on the day.

The company revealed a 77% fall in adjusted EBITDA from $8.7 million in 1Q FY24 to $2 million in 1Q FY25 due to softer global demand.

The half-year report in February revealed adjusted EBITDA of $12.1 million, down 54% compared to $26.1 million in 1H FY24.

US tariffs

The new year also brought a new risk to the Cettire business — US tariffs.

US President Donald Trump announced the reciprocal tariffs on 2 April. They included a 20% tariff on goods from European Union nations.

The following day, the ASX retail stock plunged 20% to a 3-year intraday low of 64 cents after the company released a statement advising investors that approximately 41% of its total gross sales in 1H FY25 were European Union-manufactured goods sold to US customers.

Cettire said:

Cettire is currently assessing the full implications of these tariff changes on the Company and its global operations, noting that several major luxury brands have indicated they would seek to increase pricing of luxury goods in the US market to mitigate possible tariff changes.

Cettire's 3Q FY25 update on 23 April revealed an adjusted EBITDA loss of $4.7 million, including a $2.1 million foreign exchange loss.

This sent the ASX retail stock down 24% on the day to 50 cents.

An FY25 trading update earlier this month revealed an adjusted EBITDA of just $500,000 for the 11 months to 31 May.

Cettire noted continued challenges in the global luxury market that had been "amplified by US tariff policy changes".

Once again, Cettire shares slipped substantially, down 32% for the day.

The next day, 13 June, the ASX retail stock hit a historical intraday low of 25 cents.

Cut and run on this ASX retail stock, says expert

Against this backdrop, Jonathan Tacadena of MPC Markets currently has a sell rating on this ASX retail stock.

Commenting on The Bull, Tacadena says:

In our view, the outlook is challenging.

Approaching the end of the financial year, investors may want to consider realising any losses in CTT to offset other capital gains.

The post ASX retail stock down 92% in 16 months faces 'challenging outlook': expert appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Boss Energy Ltd (ASX: BOE) continues its long run as the most shorted ASX share with short interest of 18.1%. This is down week on week again. Short sellers are betting heavily against the uranium market.
• Paladin Energy Ltd (ASX: PDN) has seen its short interest ease slightly week on week to 15.3%. This is another uranium miner that is being targeted by short sellers.
• Mineral Resources Ltd (ASX: MIN) has short interest of 14.9%, which is up week on week. A precarious balance sheet and weak commodity prices are weighing on sentiment.
• Pilbara Minerals Ltd (ASX: PLS) has seen its short interest remain flat at 12.8%. Chinese spodumene prices recently dropped to multi-year lows, dragging lithium miners down with them.
• Liontown Resources Ltd (ASX: LTR) has short interest of 12.4%, which is down slightly week on week again. This high level of short interest is also being driven by weak lithium prices.
• Polynovo Ltd (ASX: PNV) has 10.7% of its shares held short, which is up slightly since last week. Short sellers don't appear to believe that this medical device company's shares deserve to trade on such high multiples.
• Cettire Ltd (ASX: CTT) has seen its short interest rise to 10.7%. Short sellers will have been smiling last week after a terrible update led to this online luxury products retailer's shares crashing over 40%.
• Deep Yellow Limited (ASX: DYL) has 10.5% of its shares held short, which is down week on week. It is another uranium miner that short sellers have been successfully targeting.
• Lifestyle Communities Ltd (ASX: LIC) has seen its short interest rise slightly to 10.2%. This may be due to concerns that negative media coverage is causing headwinds for the retirement living developer.
• IDP Education Ltd (ASX: IEL) has 10.2% of its shares held short, which is down week on week. Some short sellers may have been closing positions after its shares crashed over 50% a week earlier following a very disappointing update.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Accent Group Ltd (ASX: AX1)

The Accent share price is down 23% to $1.39. This has been driven by the release of a disappointing trading update from the footwear-focused retailer after the market close on Thursday. Due to tough trading conditions, Accent Group expects its group EBIT to be in a range of $108 million to $111 million for FY 2025. This is well short of the consensus estimate of $133 million. Bell Potter remains positive, though. It has retained its buy rating with a reduced price target of $2.10.

Cettire Ltd (ASX: CTT)

The Cettire share price is down a further 16% to 27 cents. This online luxury products retailer's shares have been sold off this week after it released another poor trading update. Cettire revealed that its adjusted EBITDA was negative $6.9 million for the first two months of the fourth quarter. This compares to positive EBITDA of $12.1 million for the first half. Just over a year ago, its founder CEO, Dean Mintz, sold $127 million worth of shares. Cettire's market capitalisation is now under $100 million.

Ioneer Ltd (ASX: INR)

The Ioneer share price is down 13% to 10 cents. This morning, this emerging lithium–boron producer received firm commitments from institutional, professional, and sophisticated investors to raise approximately US$16 million (~A$25 million) through a placement. These funds are being raised at an issue price of 10 cents per new share, which represents a 13% discount to its last closing price. Executive chair, James Calaway, said: "Rhyolite Ridge continues to demonstrate it is a world-leading lithium project, helping accelerate the electric vehicle transition and securing a cleaner future for our children and grandchildren. This Placement represents another step forward towards ensuring this world-class project operates efficiently and sustainably."

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is down over 3.5% to $269.00. Investors have been selling Pro Medicus and other ASX tech stocks today in response to rising tensions in the Middle East. This has led to investors switching out of risk on assets and into risk off assets like gold miners. The S&P/ASX All Technology Index is down 1.5% at the time of writing.

The post Why Accent, Cettire, Ioneer, and Pro Medicus shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is down 9% to 10.5 cents. This morning, the betting technology company announced the completion of a placement to sophisticated and institutional investors that raised $11.5 million. These funds were raised at a discount of 10 cents per share. The company advised: "Funds received from the Placement will be used to: Repay all outstanding debt; Fund content and access agreements, including payments in relation to New Jersey Fixed Odds; Fund the potential strategic acquisition of Las Vegas Dissemination Company, the only provider of pari-mutuel wagering services in Nevada; and Improve financial flexibility and working capital."

Cettire Ltd (ASX: CTT)

The Cettire share price is down 31% to 32 cents. Investors have been hitting the sell button today after the online luxury products retailer released a dismal trading update. Cettire revealed that its adjusted EBITDA is $0.5 million financial year to date. As a comparison, the company reported positive EBITDA of $12.1 million for the first half. And given that its EBITDA was negative $4.7 million during the third quarter, this suggests that Cettire has recorded a disappointing $6.9 million EBITDA loss for the first two months of the fourth quarter. Combined with its falling cash balance, investors appear concerned that Cettire could go the same way as rival Farfetch, which ended up in administration.

Johns Lyng Group Ltd (ASX: JLG)

The Johns Lyng share price is down 1.5% to $2.94. This appears to have been driven by profit taking following a strong gain on Wednesday. Investors were buying the building and restoration services company's shares after it received a non-binding takeover offer from Pacific Equity Partners (PEP). It has offered to acquire 100% of the issued shares of the company by way of a scheme of arrangement for an unspecified price. The company has granted due diligence to PEP.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 5% to $3.93. This appears to have driven by weakness in the lithium industry today. In addition, this morning, the lithium developer announced that its $196 million conditional debt commitment letter signed by the commercial bank group in December 2024 has been extended until September 2025. Vulcan's CFO, Felicity Gooding, commented: "The extension of the debt commitment letter will allow us to potentially include significant government funding in the financing package."

The post Why Betmakers, Cettire, Johns Lyng, and Vulcan shares are falling today appeared first on The Motley Fool Australia.

In morning trade, the online luxury products retailer's shares are down 27% to a multi-year low of 34 cents.

This latest decline means that its shares are now down 85% since this time last year.

Why are Cettire shares crashing?

Investors have been rushing to the exits in their droves this morning after the company released another bleak trading update.

According to the release, for the 11 months ended 31 May, sales revenue was up 1.7% over the prior corresponding period to $693.8 million.

However, as a comparison, during the first half of FY 2025, Cettire's sales revenue was up 11% to $394 million.

And with its sales growing 1% in the third quarter, this appears to indicate that the company's sales growth has turned very negative during the fourth quarter.

Also heading lower has been the company's active customers (those that have purchased in the last 12 months), which now stands at 671,328. This is down 3.5% since the end of March.

Earnings crunch

The release reveals that Cettire's delivered margin is 16% financial year to date, this is down from 18% during the first half. Management advised that this reflects a continuation of heightened promotional activity and higher fulfilment costs.

This ultimately means that adjusted EBITDA is $0.5 million financial year to date. This is inclusive of ~$2 million realised foreign exchange loss during April and May.

As a comparison, the company reported positive EBITDA of $12.1 million for the first half. And given that its EBITDA was negative $4.7 million during the third quarter, this suggests that Cettire has recorded a disappointing $6.9 million EBITDA loss for the first two months of the fourth quarter.

Management advised that it is now focused on delivering improved profitability through the remainder of FY 2025 and into FY 2026, while greater volatility in demand persists.

Cettire's CEO, Dean Mintz, said:

The operating environment within the global personal luxury goods market since Cettire's Q3 FY25 trading update has remained volatile, with a continued softening of demand in the Company's Established Markets, notably in the US. Recent results from luxury industry participants point to continued challenges in the sector, amplified by trade uncertainty surrounding US tariff policy.

As a result, elevated promotional activity persists across the market. Against this backdrop, Cettire's focus remains on geographic revenue diversification and improving delivered margin percentage.

Commenting on the future, Mintz adds:

The Company's Emerging Markets continue to demonstrate a significant opportunity and Cettire is evaluating a further expansion in its footprint, having launched operations in Kuwait and Bahrain in recent weeks.

The Company's net cash balance was approximately $45 million at period end. Cettire remains relentlessly focused on its strategy to grow profitably while self-funding. Due to the rapidly evolving market environment, the immediate focus remains on improving profitability.

Time will tell if Cettire can turn around its fortunes, but judging by its share price decline and market capitalisation, the market appears unsure if Cettire's business model is sustainable.

Just over one year ago Mintz sold $127 million worth of Cettire shares. The company's current market capitalisation is now lower than this figure.

The post Why are Cettire shares crashing 27% today? appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Boss Energy Ltd (ASX: BOE) continues to be the most shorted ASX share with short interest of 19.5%. This is down week on week again. Short sellers are sticking with this uranium producer despite plenty of positive industry news in recent weeks.
• Paladin Energy Ltd (ASX: PDN) has seen its short interest increase slightly week on week to 15.4%. Short sellers are also betting against this uranium miner despite a number of tech companies committing to nuclear power to support their artificial intelligence plans.
• Mineral Resources Ltd (ASX: MIN) has short interest of 14.6%, which is up week on week. This mining and mining services company has been battling weak commodity prices.
• Pilbara Minerals Ltd (ASX: PLS) has seen its short interest rebound to 12.8%. Short sellers have been loading up on the lithium miner's shares after Chinese spodumene prices dropped to multi-year lows.
• Liontown Resources Ltd (ASX: LTR) has short interest of 12.6%, which is down slightly week on week again. This has also been driven by weak lithium prices.
• IDP Education Ltd (ASX: IEL) has 11.5% of its shares held short, which is down week on week. Short sellers will have been pleased to see this student placement and language testing company's shares crash 53% last week following a very disappointing update.
• Deep Yellow Limited (ASX: DYL) has 10.9% of its shares held short, which is down week on week again. It is another uranium stock that short sellers have been targeting.
• Polynovo Ltd (ASX: PNV) has 10.6% of its shares held short, which is flat since last week. Short sellers appear to believe the medical device company's shares are overvalued based on its growth this year.
• Cettire Ltd (ASX: CTT) is back in the top ten with short interest of 10.5%. This has been driven by concerns that the online luxury products retailer could struggle with trade tariffs and changes to the de minimis threshold in the US.
• Lifestyle Communities Ltd (ASX: LIC) has short interest of 10%. This appears to have been driven by concerns that negative media coverage is causing headwinds for the retirement living developer.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Boss Energy Ltd (ASX: BOE) continues to be the most shorted ASX share with short interest of 21.7%. This is down week on week once again. Unfortunately for short sellers, uranium stocks jumped last week after US President Donald Trump signed an order to boost the industry.
• Paladin Energy Ltd (ASX: PDN) has seen its short interest rise week on week to 15.6%. It is another uranium miner that jumped last week on the Trump news.
• Mineral Resources Ltd (ASX: MIN) has short interest of 14.3%, which is up since last week. Weak commodity prices and a precarious balance sheet appear to be behind this.
• Liontown Resources Ltd (ASX: LTR) has short interest of 12.8%, which is up from last week. Short sellers have been loading up on Liontown's shares after lithium spot prices tumbled.
• IDP Education Ltd (ASX: IEL) has 12.7% of its shares held short, which is down week on week. This student placement and language testing company is struggling with very tough trading conditions.
• Pilbara Minerals Ltd (ASX: PLS) has seen its short interest rise again to 12.3%. This lithium miner's shares are also being targeted due to weak battery material prices.
• Deep Yellow Limited (ASX: DYL) has 11.6% of its shares held short, which is down week on week again. This is another another uranium stock that short sellers have been targeting.
• Polynovo Ltd (ASX: PNV) has 11% of its shares held short, which is up week on week. The market has been disappointed with this medical device company's growth this year.
• Cettire Ltd (ASX: CTT) has short interest of 10.7%, which is flat week on week. There are concerns that this online luxury products retailer could struggle with changes to de minimis tax rules in the US.
• Karoon Energy Ltd (ASX: KAR) has short interest of 10.1%. This seems to be due to concerns over oil and gas demand.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.