The S&P/ASX 200 Index (ASX: XJO) is on track to finish the week with a small decline. At the time of writing, the benchmark index is down a fraction to 7,189.7 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Azure Minerals Ltd (ASX: AZS)
The Azure Minerals share price is down 5% to $1.56. This is despite the lithium explorer releasing more promising drilling results this morning. However, with the company's shares up almost 200% in the space of a month, some profit-taking could be happening today.
Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is down a further 4% to $2.81. Investors continue to sell down this diversified food company's shares following a disappointing update earlier this week. Not even news of some insider buying has been able to turn the tide. The Bega share price is now down 22% since this time last month.
Link Administration Holdings Ltd (ASX: LNK)
The Link share price is down 14% to $1.67. This has been driven by news that the company's contract for the provision of fund administration services to industry superannuation fund HESTA will not be renewed when it expires. The current deal represents 4% of total revenue. HESTA is moving to Grow Inc. It seems some investors fear others may follow.
Neometals Ltd (ASX: NMT)
The Neometals share price is down 6% to 48.5 cents. This follows news that the company has pushed back the final investment decision for the Neometals vanadium recovery project to 30 September. Management has tried to ease concerns by advising that debt financing-related due diligence by a European Investment Bank is progressing favourably.
