Why BrainChip, Crown, Qantas, & Quickstep shares are tumbling lower

Crown Resorts Ltd (ASX:CWN) and Qantas Airways Limited (ASX:QAN) are two of four ASX shares dropping lower on Tuesday. Here's why…

| More on:
red arrows pointing down and crashing through floor

Image source: Getty Images

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) has followed the lead of US markets and is pushing higher. At the time of writing, the benchmark index is up 0.2% to 6,764.8 points.

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

Brainchip Holdings Ltd (ASX: BRN)

The BrainChip share price has fallen 4% to 72 cents. This is despite there being no news out of the artificial intelligence services company today. However, it is worth noting that its shares are up 33% in the space of a month, even after today's decline. As a result, it looks as though profit taking could be weighing on the BrainChip share price today.

Crown Resorts Ltd (ASX: CWN)

The Crown share price is down almost 2% to $11.76. This decline also appears to have been driven by profit taking. With the Crown share price jumping 21% on Monday following a takeover offer, it appears as though some investors are cashing in now. Especially given how close Crown's shares are trading to the offer of $11.85 cash per share.

Qantas Airways Limited (ASX: QAN)

The Qantas share price has fallen over 2% to $5.21. A number of travel shares have come under pressure today. Investors may be concerned that the terrible floods in New South Wales and South Queensland could impact the Easter holiday period.

Quickstep Holdings Limited (ASX: QHL)

The Quickstep share price has sunk 8.5% to 6.5 cents. This follows the release of an update by the aerospace company after the market close on Monday. According to the release, Quickstep has been informed by Chemring Australia that its recent proposal for the supply of MJU-68B flare housings has not been successful. The company advised that the grounds for this decision are contestable. As a result, Quickstep has initiated a formal protest to the United States and Australian Departments of Defence.

Should you invest $1,000 in Berkshire Hathaway Inc. right now?

Before you buy Berkshire Hathaway Inc. 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 Berkshire Hathaway Inc. 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

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. 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

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Block, Corporate Travel Management, Judo, and Zip shares are sinking today

These shares are missing out on the good times on Friday. But why?

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

These were the worst-performing ASX 200 shares in April

These shares were out of form last month. But why?

Read more »

Man waiting for his flight and looking at his phone.
Travel Shares

Corporate Travel shares crash 11% as Trump tariffs bite

Trump’s tariffs are roiling Corporate Travel shares on Friday.

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 Brainchip, DroneShield, Resolute Mining, and Woodside shares are falling today

These shares are under pressure on Thursday. What's going on?

Read more »

Man with a hand on his head looks at a red stock market chart showing a falling share price.
Share Fallers

Why Appen, Bank of Queensland, Novonix, and Ora Banda shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Brainchip, Catalyst Metals, Northern Star, and Pact Group shares are tumbling today

These shares are having a tough time on Tuesday. But why?

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Share Fallers

Why Brambles, Bravura, Pantoro, and Telix shares are sinking today

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

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why DroneShield, Generation Development, Oneview, and PWR shares are falling today

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

Read more »