The S&P/ASX 200 Index (ASX: XJO) is out of form on Wednesday and trading lower. At the time of writing, the benchmark index is down 0.55% to 8,449.5 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price is down almost 6% to 70.2 cents. Investors have been selling off this counterdrone technology company's shares since Donald Trump was elected US President. The market appears to believe that Trump's victory could pave the way for the end of the war in the Ukraine. In addition, a ceasefire in the Middle East was announced in recent days. This is good for humankind but not necessarily for the sale of defence products.
Goodman Group (ASX: GMG)
The Goodman Group share price is down 3.5% to $36.86. This is despite there being no news out of the industrial property giant today. However, there was a major sale of Goodman shares at the market open. Two block trades with a combined value of over $2.7 billion were made at a discount to yesterday's close price. It seems that a large investor was looking to lock in some gains. Goodman shares remain up over 55% since this time last year despite today's weakness.
Hansen Technologies Limited (ASX: HSN)
The Hansen Technologies share price is down over 2% to $5.58. This morning, this billing technology company revealed that its CEO has sold a large number of shares through a family trust. Hansen's CEO and managing director, Andrew Hansen, sold 7 million shares (3.4% of shares on issue) by an aftermarket block trade. This followed an unsolicited approach after the close of trade on 3 December 2024. The release notes that Andrew Hansen sold the shares to enhance liquidity and free float and enable the Hansen family to diversify a portion of their overall investment. He also advised that he remains committed to the company and has no intention of selling further shares.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is down almost 3.5% to $2.42. This is despite there being no news out of the lithium giant on Wednesday. Though, it is worth noting that a number of lithium shares are falling yet again today. This latest decline means that Pilbara Minerals' shares are now down 40% since the start of the year. They are also just a whisker away from their 52-week low.
