The S&P/ASX 200 Index (ASX: XJO) is having a subdued start to the week. In afternoon trade, the benchmark index is down almost 0.1% to 8,823 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Humm Group Ltd (ASX: HUM)
The Humm share price is down 20% to 46.7 cents. This follows news that a proposed takeover by Credit Corp Group Ltd (ASX: CCP) has collapsed. Credit Corp stated: "Following a period of commercial due diligence, Credit Corp raised a number of matters which it was unable to gain comfort on following further discussions with Humm. Consequently, it informed Humm on the evening of Friday 19 June that its bid was materially reduced relative to its non-binding indicative offer. Humm has confirmed over the weekend that a mutually acceptable transaction cannot be agreed between the two parties."
Metcash Ltd (ASX: MTS)
The Metcash share price is down 2% to $3.11. Investors have been selling this wholesale distributor's shares following the release of its FY 2026 results. For the 12 months ended 30 April, Metcash reported a modest 0.2% increase in revenue (excluding charge-through sales) to $17.35 billion and a 2.4% decline in underlying net profit after tax to $268.8 million. Metcash's CEO, Doug Jones, said: "Our FY26 performance demonstrates the strength and resilience of the Metcash business model. Despite mixed trading conditions across our markets, we delivered solid earnings, strong cash generation and continued progress on our long-term strategic priorities. Our scale, our national supply chain, and our deep relationships with independent retailers remain powerful competitive advantages. We now support ~105,000 customers, ~6,300 bannered stores and reach ~95% of Australians – a unique platform that continues to generate resilient, high-quality cashflows."
Pls Group Ltd (ASX: PLS)
The PLS share price is down 5% to $5.59. This is despite there being no news out of the lithium miner. However, it is worth noting that most lithium miners are falling on Monday. On Friday, Contemporary Amperex Technology shares tumbled around 4% on the Paris stock exchange.
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is down 14% to $31.72. Investors have been rushing to the exits today following reports that the Australian Federal Police (AFP) is investigating founder Richard White over alleged trafficking matters. It has been claimed that White exploited a former cleaner's immigration status and financial position and provided false information on a visa application. WiseTech has not responded to the reports.
The post Why Humm, Metcash, PLS, and WiseTech shares are sinking today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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