Three ASX shares ended in red today. Here’s why.

1 min read | January 04, 2024 04:54 PM AEDT | By Team Kalkine Media

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Three ASX shares ended in red today. Here’s why. — Image source: Shutterstock.com

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The S&P/ASX 200 Index experiences a downward trend, marking a 0.39% decline to 7,494.10 points during Thursday's afternoon trade.

Arcadium Lithium (ASX:LTM)

Arcadium Lithium's shares plummet by around 9.20% to AU$9.87 apiece, influenced by a substantial decline in Livent Corp's shares on Wall Street. This drop follows the nearing completion of the merger between Allkem Ltd (ASX:AKE) and Livent Corp.

Brainchip Holdings (ASX:BRN)

Brainchip Holdings witnesses a 5.17% dip in its share price, amounting to 17 cents. The semiconductor company announces a new capital raising through a put option agreement, raising AU$12 million amid challenges in generating significant sales.

Megaport Ltd (ASX:MP1)

Megaport Ltd experiences a 2.11% decline in its share price, reaching AU$8.81. The downturn seems linked to broader weaknesses in the tech sector, driven by consecutive declines in the Nasdaq index, closing 1.2% lower.

Conclusion

The ASX faced a challenging trading session with several key stocks facing notable declines, highlighting the vulnerability of various sectors to both internal and external market dynamics.

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