Intel Sinks Another 10% Intraday as Three-Session Sell-Off Takes the Stock Down Nearly 40%
$INTC.US$ saw its big sell-off extend into a third session Monday as the chip giant's stock fell more than 10% intraday to a 12-year low – adding to last week's massive red ink.
INTC dropped as much as 10.2% Monday to a $19.29 session low, a level the stock hasn't seen since November 2012. At that price, the stock was down 37.2% since Wednesday's close.
The bulk of the three-session sell-off came on Friday, when Intel plunged some 26% -- its worst single-day loss in 40 years – following disappointing Q2 results.
Intel also issued Q3 guidance that fell below analysts' previous expectations, while suspending its quarterly dividend and announcing plans to cut 15% of its workforce.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
332Followers
337Following
1623Visitors
Follow
只赚饭盒钱 : Probably following in Motorola's footsteps...