Why Catapult, DroneShield, Lendlease, and Weebit Nano shares are sinking today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the year with a small gain. At the time of writing, the benchmark index is up 0.2% to 8,177.9 points.

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

Catapult Group International Ltd (ASX: CAT)

The Catapult Group share price is down almost 4% to $3.57. This is despite there being no news out of the sports analytics company today. This decline could have been driven by profit taking from some investors after a stellar performance in 2024. Since this time last year, Catapult Group's shares have risen by an enormous 158%.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down almost 5% to 73 cents. This may also have been driven by a spot of profit taking from day traders after some strong gains in recent sessions. For example, even after today's pullback, the counter drone technology company's shares have risen approximately 20% since mid-December. Though, Bell Potter still sees a lot of value on offer with its shares. It recently put a buy rating and $1.20 price target on them.

Lendlease Group (ASX: LLC)

The Lendlease Group share price is down 1.5% to $6.13. This is despite the international property and infrastructure company announcing a divestment today. Lendlease has entered into a binding agreement with Atlas Holdings for the sale of its UK Construction business. On completion, this will finalise Lendlease's exit of its international construction operations, well ahead of the targeted 18-month timeline announced in May 2024. Under the terms of the transaction, Lendlease will receive GBP35 million ($70 million) cash consideration, including GBP10 million ($20 million) deferred until June 2026, subject to completion adjustments.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down 11% to $3.19. This could be a case of buy the rumour, sell the facts after the semiconductor company announced that it has licensed its ReRAM technology to tier-one semiconductor supplier, ON Semiconductor Corp (NASDAQ: ON) (onsemi). Commenting on the deal, Weebit Nano's CEO, Coby Hanoch, said: "We are delighted to announce Weebit's latest commercial agreement with onsemi, one of the world's top semiconductor integrated device manufacturers. This agreement is further industry recognition that ReRAM is the non-volatile memory solution best positioned to replace traditional flash storage, with Weebit being a leading independent provider of ReRAM."

The post Why Catapult, DroneShield, Lendlease, and Weebit Nano shares are sinking today appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Group International and DroneShield. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ON Semiconductor. The Motley Fool Australia has recommended Catapult Group International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2025