Stock Track | GIGADEVICE Plummets 5.43% Intraday as Profit-Taking and Sector-Wide Weakness Weigh on Shares

Stock Track08-06

GIGADEVICE’s Hong Kong-listed shares plunged 5.43% intraday, reversing gains from a sharp rally in the prior session. The steep decline came as investors locked in profits after the stock surged nearly 8% on Wednesday, fuelled by AI-driven storage demand optimism and overnight strength in U.S. memory chip stocks.

The broader semiconductor sector also came under heavy selling pressure, with MONTAGE TECH falling 5.25%, ILUVATAR COREX dropping 4.25%, and SMIC sliding 3.68%. The sector-wide pullback reflected a risk-off mood as traders reassessed the sustainability of recent gains in chip-related names.

Adding to the cautious tone, market participants are adopting a wait-and-see approach ahead of GIGADEVICE’s board meeting to review interim results on August 18, creating an additional layer of near-term uncertainty for the stock.

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