Stocks move lower in premarket trading as chip names fall
Pre-market stock movers today: chip shares slip as AI enthusiasm cools See why Micron, AMD, MGM, and energy names are moving before the open
Several stocks moved sharply before the U.S. market opened on Monday, with chiprelated shares under pressure and a handful of other companies trading higher on companyspecific news.
SK Hynix fell in U.S. trading after its Nasdaq debut on Friday, while memory and semiconductor names including Micron, Western Digital, Sandisk, Intel and AMD also declined as investors reassessed enthusiasm around artificial intelligencerelated stocks.
Among the gainers, CCC Intelligent Solutions rose after a report said Elliott Investment Management had built a large stake, MGM Resorts advanced on reports of private talks with Barry Diller, and energy shares climbed as oil prices rose after fresh U.S.Iran strikes over the weekend. Fastenal, Shopify and Deckers also traded higher following analyst upgrades.