IPERIONX LTD (IPX) shares plummeted 16.16% during intraday trading as investor sentiment turned negative following the release of disappointing financial results.

The titanium producer reported a half-year net loss of $34.8 million, more than double the $16.2 million loss in the previous corresponding period. The widened losses have raised concerns among investors about the company's path to profitability despite its expansion plans.

IperionX is focused on expanding its Virginia production capacity to 1,400 tons per annum by mid-2027 and scaling commercial operations, but the financial performance has prompted a sell-off in the stock.