The S&P/ASX 200 Index (ASX: XJO) is having a tough start to the week. In afternoon trade, the benchmark index is down 1.2% to 8,416.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
4DMedical Ltd (ASX: 4DX)
The 4DMedical share price is down 10% to $5.63. This may have been driven by profit-taking from some investors following a very strong gain last week. Investors were buying the respiratory imaging technology company's shares after it made a big announcement. 4DMedical revealed that its CT:VQ technology has been deployed at the Mayo Clinic in the United States. The company's managing director and CEO, Andreas Fouras, commented: "Mayo's deployment is uniquely significant. When the world's number one hospital chooses to use your technology, it sends the strongest possible signal to the entire U.S. healthcare market about the clinical value and readiness of CT:VQ."
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price is down 3.5% to 14 cents. Although this semiconductor company announced a licensing agreement today, the market doesn't appear overly impressed given the customer and the terms. BrainChip has entered into a technology licensing deal with Korea-based semiconductor company EDGEAI for its Akida 2 neuromorphic IP. The company will receive unspecified payments as it provides various deliverables, including IP access, engineering support, and integration services, as well as royalties on product sales. The agreement is global and non-exclusive, meaning EDGEAI is not restricted from working with other technology providers. In addition, it can be terminated by the customer without cause on one month's notice.
Catapult Sports Ltd (ASX: CAT)
The Catapult Sports share price is down 14% to $2.92. This follows the release of the sports technology company's analyst day presentation. Catapult revealed bold growth ambitions, targeting a rise in average annual contract value (ACV) per pro team from US$20,000 to between US$100,000 and US$150,000. However, this will depend on successful upselling to existing teams and launching additional products.
Star Entertainment Group Ltd (ASX: SGR)
The Star Entertainment share price is down 2% to 12.25 cents. This morning, this casino and resorts operator revealed that it has entered into a binding commitment letter with funds associated with WhiteHawk Capital Partners. This is in relation to a refinancing of its debt. It notes that the annual interest rate based on the term SOFR plus a margin that is materially consistent with its recent facility agreements.
The post Why 4DMedical, Brainchip, Catapult, and Star Entertainment shares are falling today appeared first on The Motley Fool Australia.
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 Sports. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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