The (ASX: XJO) is having a strong session on Tuesday and is storming higher. At the time of writing, the benchmark index is up 1% to 8,384.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling: ( ) The Elders share price is down almost 9% to $7.89.
Investors have been selling this agribusiness company's shares today after it completed the . Elders notes that it attracted strong support from both existing and new institutional shareholders and raised approximately $143 million at an offer price of $7.85 per new share.
This represents a 9.2% discount to its last close price. Elders is raising funds after entering into an agreement to acquire 100% of the shares in Delta Agribusiness for an enterprise value of $475 million.
It provides rural products and advisory services through a network of 68 locations and approximately 40 independent wholesale customers. ( ) The KMD Brands share price is down 2.5% to 38 cents.
This follows the release of the Rip Curl and Kathmandu owner's trading update at its annual general meeting. The company revealed that group sales were down 5.8% on the prior corresponding period for the first quarter of FY 2025.
Rip Curl was the worst performer of the two, reporting a 6.7% decline in sales. Kathmandu sales were down 2.
7%. ( ) The Lovisa share price is down a further 1% to $27.79.
This fashion jewellery retailer's shares have come under pressure this week after analysts assessed its st.