Movement Alert｜Applied Materials Falls 3.11% in Pre-Market Trading, Big Short Burry Shorting Overlaps with CEO Large-Scale Share Dump

Market Focus07-02 16:20

On July 2, Applied Materials fell 3.11% in pre-market trading, trading at approximately 632.1 USD/share, with turnover of 18.43 million USD, extending weakness following the previous session's 8.79% plunge.

On the news front, the company faces dual selling pressure. Legendary hedge fund manager Michael Burry, the real-life figure behind The Big Short, publicly announced new short positions in Applied Materials, NVIDIA, Tesla, and the iShares Semiconductor ETF, arguing that AI-related stocks have risen excessively. Burry noted that the Philadelphia Semiconductor Index currently sits approximately 65% above its 200-day moving average, a level last seen during the 2000 dot-com bubble, calling Korea's massive spending plan the beginning of the end.

Simultaneously, the latest Form 4 filing confirmed that President and CEO Gary Dickerson sold 78,321 shares between June 29-30 at average prices between $700 and $736, cashing out approximately $55 million. Within the Semiconductor Equipment sector, peers also declined: Lam Research down 2.4%, ASML down 2.32%, and Teradyne down 2.42%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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