On June 29, KIOXIA Holdings fell 4.39% in pre-market trading, trading at $54.33/share, with turnover of $244,400, extending its multi-session pullback.
The stock had surged over 17% on June 25 after announcing plans to pursue a US mainboard listing in the second quarter of its next fiscal year. However, the rally was almost entirely reversed on June 26 when shares plunged 13.17%, and selling pressure has persisted since. International investment bank Bernstein maintains an Underperform rating on KIOXIA, estimating approximately 50% downside from current levels. The firm argues the company's exceptionally high gross margins are cyclical benefits driven by a temporary NAND flash supply-demand gap, and that flash memory prices are likely approaching a peak before declining.
With profit-taking pressure intensifying and valuation concerns unresolved, the US listing catalyst appears to have been fully priced in by the market, leaving the stock under sustained pressure.
(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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