Micron Stock Tumbles as CXMT Launches $8.55 Billion Shanghai IPO
Micron Technology shares dropped about 8% intraday, mirroring a broader semiconductor pullback sparked by Chinese memory chipmaker CXMT announcing an $8.55 billion IPO on Shanghai’s STAR Market. While US sanctions restrict CXMT from producing advanced high-bandwidth memory, the new capital raises competitive pressure across the standard DRAM market. Portfolio managers and semiconductor investors experienced a … Read more