Why Baby Bunting, Calidus, Pointsbet, and South32 shares are falling

These ASX shares are dropping on Tuesday…

| More on:
Red arrow going down on a chart, symbolising a falling share price.

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 given back its morning gains and dropped slightly into the red. At the time of writing, the benchmark index is down a fraction to 6,667.6 points.

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

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price has crashed over 21% to $3.07. This follows the release of a trading update at the baby products retailer's annual general meeting. Although Baby Bunting delivered double-digit sales growth financial year to date, its earnings have fallen due to significant gross margin weakness. This has been partly driven by intense price competition and rising inflation.

Calidus Resources Ltd (ASX: CAI)

The Calidus Resources share price is down a further 23% to 36.5 cents. Investors have been selling this gold miner's shares this week following a disappointing update. That update revealed softer than expected gold production during the latest quarter.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is down 8% to $1.94. This is despite there being no news out of the sports betting company on Tuesday. However, it is worth noting that a number of tech shares are falling today after a poor night of trade on the NASDAQ index. This has seen the S&P/ASX All Technology Index drop 0.8% this afternoon.

South32 Ltd (ASX: S32)

The South32 share price is down 2% to $3.70. Investors have been selling this mining giant's shares following the release of a broker note out of Goldman Sachs. According to the note, the broker has downgraded South32's shares to a neutral rating and cut the price target on them by 21% to $3.70. This follows a sharp reduction in its earnings estimates to reflect lower commodity price forecasts.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Baby Bunting and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

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 Dateline, DroneShield, Ora Banda, and Pilbara Minerals shares are dropping today

These shares are ending 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 Qantas, Resimac, Tyro, and Soul Patts shares are falling today

These shares are having a tough session today. But why?

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why Betr, Evolution, NIB, and West African Resources shares are falling today

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

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Elders, IDP Education, Life360, and Pilbara Minerals shares are falling today

Let's see why investors are selling these shares.

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

The 5 worst performing ASX 200 shares in May unmasked

These five ASX 200 shares got smashed in May. But why?

Read more »

Disappointed man with his head on his hand looking at a falling share price his a laptop.
Share Fallers

Why Brazilian Rare Earths, Mineral Resources, Pilbara Minerals, and Syrah shares are falling

Why are these shares starting the week in the red?

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 Brainchip, Findi, Lottery Corp, and REA shares are falling today

These shares are ending 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 ALS, Black Cat, Boss Energy, and Soul Patts shares are falling today

These shares are falling on Thursday. Let's find out why.

Read more »