On June 23, AXT Inc fell 8.9% in regular trading, trading at $85.07/share, with turnover of $163 million.
On the news front, the stock had surged 9.1% on June 22 and rose as much as 11.23% intraday on June 23, driven by intensified Chinese indium export scrutiny and indium phosphide supply chain shortage expectations. Short-term profit-taking pressure became pronounced following the rapid run-up. Simultaneously, the semiconductor equipment sector experienced a broad selloff, with Teradyne down 10.37%, Lam Research down 10.0%, Applied Materials down 9.55%, KLA-Tencor down 8.97%, and ASML down 6.92%, dragging individual stocks lower on a systemic basis.
Additionally, CEO Morris S Young recently sold approximately 197,500 shares, while directors Jesse Chen and David C Chang also continued reducing their holdings. The concentrated insider selling has weighed on market sentiment and constrained rebound potential.
(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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