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Why GlobalFoundries Rallied Today for the Second Day in a Row

·4 min read

Shares of semiconductor foundry GlobalFoundries (NASDAQ: GFS) were up as much as 13.2% today, before settling into a 7.4% gain as of 12:31 p.m. ET. First, last week saw better-than-feared earnings reports from several chip-related and broader technology companies, especially on the lagging-edge nodes in which GlobalFoundries specializes. Then on Monday, officials said that House Speaker Nancy Pelosi would visit Taiwan.