The S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain on Tuesday despite a tech meltdown on Wall Street overnight. In afternoon trade, the benchmark index is up 0.1% to 8,417.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Bellevue Gold Ltd (ASX: BGL)
The Bellevue Gold share price is down 4% to $1.07. This follows the release of the gold miner's quarterly update this morning. According to the update, Bellevue Gold's quarterly gold production totalled 26,059 ounces with an all-in sustaining cost (AISC) of A$2,765 per ounce. Looking ahead, management has downgraded its full year guidance. Its FY 2025 guidance has been revised to 150,000 ounces to 165,000 ounces at an AISC of A$1,900-A$2,100 per ounce. Previously, it was guiding to 165,000 ounces to 180,000 ounces with an AISC of A$1,750-A$1,850 per ounce.
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down over 15% to 33 cents. Investors have been selling this semiconductor company's shares following the release of another dismal quarterly update. For the three months ended 31 December, Brainchip achieved cash receipts of just US$50,000. This was despite the company spending over US$4 million on operating activities during the period.
Deep Yellow Ltd (ASX: DYL)
The Deep Yellow share price is down 16% to $1.22. This has been driven by concerns that the artificial intelligence (AI) boom may not require as much nuclear power as first expected. This follows developments in China from DeepSeek which appear to indicate that its AI will be cheaper than existing alternatives, require fewer chips, and less power. Investors may now be concerned that an AI-fuelled multi-year uranium bull market won't emerge as hoped. Most major uranium stocks are down heavily today on the news.
Goodman Group (ASX: GMG)
The Goodman Group share price is down 8% to $35.10. Investors have been selling this integrated industrial property company due to the aforementioned concerns over the AI boom. Goodman is investing heavily in data centres on the belief that AI will cause a surge in demand for capacity. However, DeepSeek's developments could mean that data centres won't be experiencing as much demand as they were expecting. Given how much future growth is already priced into Goodman's shares, this uncertainty is weighing heavily on them (and other data centre operators) on Tuesday.
