Why CSL, Lovisa, Lynas, & Syrah shares are dropping lower

CSL Limited (ASX:CSL) and Syrah Resources Ltd (ASX:SYR) shares are two of four dropping lower on Friday…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end the week with a decline. At the time of writing, the benchmark index is down 0.3% to 6,663.3 points.

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

CSL Limited (ASX: CSL)

The CSL share price is down 3% to $292.02. Investors have been selling the biotech giant's shares after it announced the surprise termination of its COVID-19 vaccine trial. Although the phase 1 trial showed that the vaccine caused a robust response towards the virus, it was also causing a false positive on a range of HIV assays. This was due to its molecular clamp, which interferes with certain HIV diagnostic assays. Unfortunately, this means it would have required significant changes to well-established HIV testing procedures to accommodate the rollout of the vaccine.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price has fallen 6.5% to $10.75 despite there being no news out of the fashion jewellery company. However, prior to today, the Lovisa share price was up 67% over the last six months. This may have led to some investors taking a bit of profit off the table today.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price has dropped almost 3% to $3.90. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has downgraded the rare earths producer's shares to a neutral rating with a $4.30 price target. UBS made the move largely on valuation grounds after a very strong gain over the last few months. It believes its shares are fully valued now.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price has sunk 9.5% lower to 92 cents after returning from a trading halt. The graphite producer's shares have come under pressure after completing a fully underwritten placement. Syrah has raised approximately $56 million (US$42 million) through a placement to professional and sophisticated investors at a 11.5% discount of 90 cents. These funds will be used partly to progress its natural graphite Active Anode Material (AAM) facility in the United States towards a final investment decision for the construction of a 10ktpa AAM plant.

Should you invest $1,000 in CSL right now?

Before you buy CSL shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and CSL wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Kogan, Monash IVF, OFX, and ResMed shares are falling today

Why are these shares taking a tumble today? Let's find out.

Read more »

A young male investor wearing a white business shirt screams in frustration with his hands grasping his hair after ASX 200 shares fell rapidly today and appear to be heading into a stock market crash
Share Fallers

Why Appen, DroneShield, Gentrack, and New Hope shares are dropping today

These shares are starting the week in the red. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Dexus, Dusk, Fletcher Building, and Paladin Energy shares are falling today

These shares are ending the week in the red. But why?

Read more »

Couple look at a bottle of wine while trying to decide what to buy.
Consumer Staples & Discretionary Shares

Treasury Wine shares: Buy, hold, or sell? Here's Macquarie's take

What is Macquarie forecasting for Treasury Wine shares amid the CEO’s unexpected exit?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Newmont, NRW, Peet, and Treasury Wine shares are dropping today

Let's find out why investors are selling down these shares on Thursday.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Aristocrat, EBR, GQG, and Insignia shares are tumbling today

These shares are having a tough time on hump day. Let's find out why.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Healius, Light & Wonder, REA Group, and Regis Resources shares are falling today

These shares are ending the week in the red. Let's find out why.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ANZ, Brainchip, Light & Wonder, and Pilbara Minerals shares are falling today

These shares are tumbling on Thursday. But why?

Read more »