Tower Semiconductor (TSEM) Stock Tanks as Intel Abandons Deal

Shares of Tower Semiconductor (NASDAQ: TSEM) took a plunge on Wednesday after the Intel (NASDAQ: INTC) merger deal was doomed due to Chinese government’s inability to give regulatory approval in time. The companies are now facing financial charges as Intel needs to pay Tower Semiconductor a hefty $353 million fee for abandoning the arrangement that was expected to give more powerfield in China to Intel.
Bernstein analyst Stacy Rasgon found through Bloomberg urged investors to evaluate the lingering effects of the terminated agreement between Intel and Tower Semiconductor. As a result, TSEM shares saw nearly 2.3 million movements on the stock market as few investors decided to sell out. In terms of contrast, Intel only had around 1 million dealings as the trading volume of 44 million average shares can be seen daily.

This anomaly heavily instilled disbelief and realization in the stock market as the consequences of nullifying this deal eventually led to TSEM by 9.4% and downtrend with INTC as 1.3%. However, few investors’ drastic reactions to TSEM does not prevent them from looking for more involving stories for startups such as this. Profiting potential leads traders to stocks such as with urgency such as AMC Entertainment (NYSE: AMC), Coinbase (NASDAQ: COIN) , and Impel Pharmaceuticals (NASDAQ: IMPL) which are seeing progressive purchases, today. As the story unfold, and with expert advices and forecasts, trading the stock market will continue incessantly and opportunities for avid investors will expand even wider.

Robert Wilson author
Articles: 12200