Why is $MX stock down today?
Magnachip Semiconductor Corp. · Semiconductors & Related Devices
Why is $MX down today?
The likely driver
- ›Consolidated revenue from continuing operations (which includes Power Analog Solutions (“PAS”) and Power IC (“PIC”) businesses) was $44.0 million, within the guidance range of $41.5 million to $45.5 million.
- ›Consolidated gross profit margin from continuing operations of 14.0% was below the guidance range of 17.0% to 19.0%, primarily due to unfavorable foreign exchange movements.
- ›Announced a $5 million strategic equity investment by Navitas Semiconductor, further strengthening the companies' partnership to develop differentiated next-generation power semiconductor solutions.
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Today’s scanner timeline
- 3:35 PMUnusual volume (RVOL) alert
Unusual-volume alerts often fire before the news is widely reported. This is when our scanner first flagged MX today.
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