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Highlights
- The benchmark index rises 0.4% to 8,235.3 points in early afternoon trade, overcoming a subdued start to the day.
- Appen shares fall 3.5% as investors take profits after a significant 350% rise in the past year.
- Brainchip Holdings shares drop 2.5%, possibly driven by profit-taking after a December surge.
- Liontown Resources shares down 2.5%, continuing a 12-month decline amid concerns over battery material prices.
While the S&P/ASX 200 Index (ASX:XJO) pushes higher with a 0.4% gain to 8,235.3 points in early afternoon trade, several individual stocks are struggling, ending the week on a negative note. Here's a closer look at three ASX shares that are in the red today:
Appen Ltd (ASX:APX)
Appen, an artificial intelligence data services company, saw its share price fall 3.5% to AU$2.72 despite no new news or announcements. The decline could be attributed to profit-taking after the company’s shares surged over 350% in 2024. After several challenging years, Appen rebounded strongly in FY 2024, leading some investors to cash in on gains.
Brainchip Holdings Ltd (ASX:BRN)
Shares of semiconductor company Brainchip fell nearly 2.5% to 42.5 cents. The drop is likely linked to profit-taking after a strong rally in December that saw Brainchip’s stock soar. The significant price increase triggered a speeding ticket from the Australian Stock Exchange last week due to the unusually high price movement, though the company was unable to explain the rise.
Liontown Resources Ltd (ASX:LTR)
Liontown, a lithium miner, saw its shares drop over 2.5% to 55.5 cents. The company’s stock has faced consistent selling pressure over the past year, largely due to concerns over weak battery material prices. This has resulted in a roughly 66% decline in Liontown’s shares since the start of 2024. The market sentiment seems to reflect doubt about a lithium price recovery in 2025, further weighing on the stock.
