Intel Plunges Nearly 30%, Upgrades Follow Selloff — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Intel received multiple upgrades on Seeking Alpha after an earnings-led stock selloff.
- Intel shares plunged nearly 30%, putting them on pace for their worst day since 1974, while about $12 billion was wiped off the government's stake.
Why it matters: Intel’s nearly 30% plunge erased about $12 billion from the government’s stake, making the earnings-linked selloff directly costly for that shareholder. The multiple upgrades on Seeking Alpha stood in sharp contrast to the market’s immediate reaction, showing that the post-earnings view was not uniformly negative.
Ask SkimNews
