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In afternoon commerce, the S&P/ASX 200 Index (ASX: XJO) is on target to file a small achieve. On the time of writing, the benchmark index is up barely to six,612 factors.
4 ASX shares which have did not observe the market greater at the moment are listed beneath. Right here’s why they’re dropping:
The Galileo Mining share worth is down 4.5% to $1.17. That is regardless of the mineral exploration firm releasing optimistic drilling outcomes from the Callisto discovery. Nonetheless, it’s value noting that this morning the corporate issued 17 million shares to institutional and complicated traders following its latest $20.Four million capital elevating. A few of these may have been offered at the moment.
Platinum Asset Administration Ltd (ASX: PTM)
The Platinum share worth is down over 2% to $1.71. Traders have been promoting this fund supervisor’s shares following the discharge of its newest funds beneath administration replace. That replace revealed that its funds beneath administration dropped to $18.2 billion on the finish of June.
The Sezzle share worth has fallen an extra 16% to 21.5 cents. Traders have been promoting this purchase now pay later (BNPL) supplier’s shares this week after its merger with Zip Co Ltd (ASX: ZIP) was terminated. This newest decline implies that Sezzle’s market capitalisation has now dropped to nearly $40 million. A far cry from its ~$2 billion peak.
Woodside Power Group Ltd (ASX: WDS)
The Woodside share worth is down 2.5% to $30.20. Traders have been promoting Woodside and different power shares on Wednesday after oil costs tumbled in a single day. Merchants have been promoting down oil costs amid considerations over demand. The S&P/ASX 200 Power index is down 1.6% in afternoon commerce.
