Why Block, Core Lithium, Fortescue, and Vulcan shares are dropping today

These shares are out of form on Thursday. 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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.4% to 8,394.1 points.

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

Block Inc (ASX: XYZ)

The Block share price is down 3.5% to $140.15. This follows a pullback in the payments company's NYSE listed shares overnight. It is unclear why investors were hitting the sell button. However, profit taking is a possible explanation. After all, its shares are up approximately 30% over the past six months.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 3.5% to 9.65 cents. Investors have been selling the lithium miner's shares following the release of its quarterly update. As the company has suspended operations at the Finniss lithium project, there wasn't any production during the three months. However, management advised that the restart study for the Finniss lithium project is progressing as planned and is on track for completion in the June quarter. CEO Paul Brown said: "We aim to make Finniss a more efficient, lower cost and resilient operation. We will seek to align our strategy with the prevailing market dynamics when the Restart Study is concluded in the June quarter."

Fortescue Ltd (ASX: FMG)

The Fortescue share price is down almost 2% to $18.68. This is despite the mining giant releasing a strong quarterly update this morning. During the second quarter, the company shipped 49.4 million tonnes (Mt) of iron ore, bringing total shipments for the first half of the financial year to 97.1Mt. The latter is a 3% increase on the same period in FY 2024 and marks the highest half year shipments in the company's history. Looking ahead, management has reaffirmed its full year shipments guidance of 190Mt to 200Mt. Fortescue's FY 2025 Hematite C1 cost guidance also remains unchanged at US$18.50–US$19.75 per wmt. Broad weakness in the mining sector appears to be overshadowing the update.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 4.5% to $5.46. This morning, this lithium developer announced the close of its share purchase plan. As part of a $164 million institutional and strategic placement, Vulcan has raised a further $8 million through the issue of 1,366,332 new fully paid ordinary shares to retail investors. New shares will be issued on 28 January and are expected to commence trading on 29 January.

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 Block. The Motley Fool Australia has no position in any of the stocks mentioned. 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 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 »

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 HMC Capital, Platinum, Sigma, and Skycity shares are dropping today

These shares are having a tough session on Tuesday. But why?

Read more »