Why Mesoblast, Regis Resources, Westgold, and WiseTech shares are sinking today

These shares are having a tough time on Wednesday. What's going on?

| More on:
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.

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

It has been a difficult session for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index has followed Wall Street's lead and dropped deep into the red. At the time of writing, the benchmark index is down 1.3% to 7,785.3.

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

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down 9.5% to 86 cents. This is despite there being no news out of the biotechnology company. However, with its shares flying high in recent sessions, it seems quite likely that some profit taking is happening today. After all, Mesoblast's shares remain up over 100% since this time last week despite today's pullback. This strong gain was driven by the US Food and Drug Administration advising that there appears to be sufficient results to support the submission of the company's proposed Biologics License Application (BLA) for its remestemcel-L medicine to treat paediatric patients with steroid-refractory acute graft versus host disease.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 3% to $1.95. Investors have been selling this gold miner's shares after it released an update on the McPhillamys Gold Project in New South Wales. Regis Resources advised that substantial progress has been made towards completion of the Definitive Feasibility Study (DFS) for the project. However, as the DFS has progressed, it has now become apparent that its development costs will be higher than anticipated and previously communicated.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price is down 14% to $2.37. This has been driven by the release of the gold miner's quarterly update this morning. During the quarter, Westgold produced 52,100 ounces of gold and achieved an average gold sale price of $3,137 per ounce. The former was softer than expected and has led to management downgrading its FY 2024 production guidance range to 220,000 to 230,000 ounces.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 5% to $89.89. This is despite there being no news out of the logistics solutions technology company. However, the tech sector is a sea of red on Wednesday following a poor night of trade on the Nasdaq index. Investors appear to have been spooked by the prospect of interest rates staying higher for longer. In afternoon trade, the S&P/ASX All Technology Index is down a disappointing 2.6%. This is twice the size of the market decline today.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

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's parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

These shares are ending the week in the red. But 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 Dexus, Mayne Pharma, Nufarm, and Treasury Wine shares are falling today

These shares are having a tough session on Thursday. 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 James Hardie, Mayne Pharma, Nufarm, and Resimac shares are falling today

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

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 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 »