On June 26, KIOXIA Holdings fell 13.17% in regular trading, trading at $55.43/share, with turnover of $17.22 million. The stock nearly erased its entire 17%+ gain from the previous session, when it surged on news of a planned US mainboard listing.
On the news front, KIOXIA had announced at its annual shareholders meeting plans to issue American Depositary Shares and pursue a US mainboard listing by the second quarter of next fiscal year. However, profit-taking quickly set in as the broader semiconductor sector came under heavy selling pressure, with Micron Technology down 6.67%, Intel down 4.48%, and AMD down 4.38%. Additionally, investment bank Bernstein maintained an Underperform rating on KIOXIA, estimating approximately 50% downside from current levels, arguing that the company's elevated gross margins reflect a temporary supply-demand gap rather than sustainable profitability, with NAND flash prices expected to peak and margins likely reverting to around 30%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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