In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week and year with a solid session. At the time of writing, the benchmark index is up 0.5% to 7,054.2 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:
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Audio Pixels Holdings Ltd (ASX: AKP)
The Audio Pixels share price is down 4% to $9.60. This morning, this digital speaker developer revealed that it is facing further delays in closing its placement. Delays are nothing new for Audio Pixels. Investors have been waiting over a decade for the company's wafer-thin speakers.
Bowen Coking Coal Ltd (ASX: BCB)
The Bowen Coking Coal share price is down 1.5% to 32 cents. This may have been driven by profit taking after a strong gain on Thursday. Investors were buying the coal miner's shares after it announced the completion of the loading of its first coal train through its Mallawa train loadout facility following refurbishments.
Link Administration Holdings Ltd (ASX: LNK)
The Link share price is down 39% to $2.01. This morning, Link's shares traded ex-distribution for an in-specie distribution of PEXA Group Ltd (ASX: PXA) shares. Early next year, eligible shareholders will receive one PEXA share for every 7.52 Link shares held at the record date rounded down to the nearest whole PEXA share.
Resolute Mining Ltd (ASX: RSG)
The Resolute share price is down almost 5% to 20 cents. This follows a pullback in the gold price on Thursday night. It isn't just Resolute that is falling on Friday. A good number of gold miners are falling, which has led to the S&P/ASX All Ordinaries Gold index falling 0.5% today.
