Why Catapult, DroneShield, Lendlease, and Weebit Nano shares are sinking today

These shares are starting the year in the red. What's happening?

| More on:
a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.

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) is on course to start the year with a small gain. At the time of writing, the benchmark index is up 0.2% to 8,177.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Catapult Group International Ltd (ASX: CAT)

The Catapult Group share price is down almost 4% to $3.57. This is despite there being no news out of the sports analytics company today. This decline could have been driven by profit taking from some investors after a stellar performance in 2024. Since this time last year, Catapult Group's shares have risen by an enormous 158%.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down almost 5% to 73 cents. This may also have been driven by a spot of profit taking from day traders after some strong gains in recent sessions. For example, even after today's pullback, the counter drone technology company's shares have risen approximately 20% since mid-December. Though, Bell Potter still sees a lot of value on offer with its shares. It recently put a buy rating and $1.20 price target on them.

Lendlease Group (ASX: LLC)

The Lendlease Group share price is down 1.5% to $6.13. This is despite the international property and infrastructure company announcing a divestment today. Lendlease has entered into a binding agreement with Atlas Holdings for the sale of its UK Construction business. On completion, this will finalise Lendlease's exit of its international construction operations, well ahead of the targeted 18-month timeline announced in May 2024. Under the terms of the transaction, Lendlease will receive GBP35 million ($70 million) cash consideration, including GBP10 million ($20 million) deferred until June 2026, subject to completion adjustments.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down 11% to $3.19. This could be a case of buy the rumour, sell the facts after the semiconductor company announced that it has licensed its ReRAM technology to tier-one semiconductor supplier, ON Semiconductor Corp (NASDAQ: ON) (onsemi). Commenting on the deal, Weebit Nano's CEO, Coby Hanoch, said: "We are delighted to announce Weebit's latest commercial agreement with onsemi, one of the world's top semiconductor integrated device manufacturers. This agreement is further industry recognition that ReRAM is the non-volatile memory solution best positioned to replace traditional flash storage, with Weebit being a leading independent provider of ReRAM."

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 Catapult Group International and DroneShield. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ON Semiconductor. The Motley Fool Australia has recommended Catapult Group International. 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 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 »

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 Aristocrat, EBR, GQG, and Insignia shares are tumbling today

These shares are having a tough time on hump day. Let's find out 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 Healius, Light & Wonder, REA Group, and Regis Resources shares are falling today

These shares are ending the week in the red. Let's find out 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 ANZ, Brainchip, Light & Wonder, and Pilbara Minerals shares are falling today

These shares are tumbling on Thursday. 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 Aurizon, JB Hi-FI, Nuix, and Platinum shares are tumbling today

These shares are falling on hump day. But why?

Read more »