My 1000 shares was worth $7830 Friday close. Worth $7261 Monday close. Down 7.3% on the day. #$%$
Their one problem is Samsung. I don't think Apple and everyone else want Samsung monopolize the market. They will shift some orders Sandisk way soon.
Real support is $50. I just don't see how things could get worse. High $,E European war already priced in. This maybe one quarter thing. Tech spring sale every year.
Bought at 66.5 today.
There is rumor TSM gave former Taiwanese president Chen kickback to obtain loans for new fab. UMC refused to give and was denied bank loan for their next generation fab. The amount may be as high as $3 billion.
Its all state owned in China. And Sichuan has natural gas underneath everywhere but almost never in commercial quantity or quality. This is known for a hundred years.
This news release is setting you up for insiders to unload, Or company to raise cash from you.
90% shares are institution owned. Largest holder owns 9 million shares. I think what happens now is some institutions don't want to show soiled loser on their book. So they clean house. Some of them end their quarter in January ?