Why Brainchip, DroneShield, Resolute Mining, and Woodside shares are falling today

MotleyFool
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The S&P/ASX 200 Index (ASX: XJO) is having a mildly positive session on Thursday. In afternoon trade, the benchmark index is up 0.1% to 8,134.1 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down over 7% to 25 cents. This semiconductor company's shares have come under pressure this week following the release of its quarterly update. Despite hyping its technology and sales potential, Brainchip recorded cash receipts of a touch over US$100,000 for the three months. This is despite the company having a market capitalisation in the region of $500 million. And given the incredible competition it faces from companies with huge research and development budgets, some investors may believe that Brainchip will never generate revenue that justifies such a valuation.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down almost 6% to $1.26. This is despite there being no news out of the counter drone technology company on Thursday. Though, it is worth highlighting that DroneShield's shares were on fire in April and recorded a gain of almost 50%. This could mean that some investors are taking a bit of profit off the table today. DroneShield shares remain up by 67% since the start of the year despite today's pullback.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is down 2% to 50 cents. This morning, this gold miner announced plans to acquire the Doropo and ABC Projects in Cote d'Ivoire from AngloGold Ashanti for US$150 million. This comprises a US$25 million upfront cash consideration on closing and US$125 million deferred cash consideration that will be paid in two instalments. CEO Chris Eger commented: "This acquisition marks an exciting new chapter for Resolute. We believe it is a highly accretive transaction that provides a foundation for future value creation for all stakeholders. The Doropo and ABC Projects present a compelling opportunity to diversify and increase our production profile in the near term to over 500koz, harnessing our existing exploration presence in Côte d'Ivoire, a highly regarded and established mining jurisdiction."

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down over 2% to $20.28. This appears to have been driven by another pullback in oil prices overnight. Concerns over softening demand due to the trade war and potential supply increase from OPEC have been behind this weakness.

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