Aehr Test's stock plummeted 7.73% during intraday trading on Monday. The sharp decline followed a recent period of strength where the stock had approached its 52-week high.
The sell-off was attributed to post-rally profit-taking by investors and concerns over share dilution from the company's recent $60 million common stock public offering. The equity offering, conducted under an S-3 registration statement that permits up to $100 million in securities issuance, began to pressure the stock as earlier bullish momentum faded.
Prior to the decline, the stock had been buoyed by a landmark $41 million follow-on production order from a leading hyperscale cloud customer for package-level burn-in testing of custom AI processor ASICs. This order represented the largest single order in company history and had pushed second-half fiscal year bookings above $92 million.
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