Intel Erases 15% Post-Earnings Rally, Falls 4% on Day
Intel stock reversed its post-earnings gains, falling 4% and erasing $90 billion in market cap since yesterday afternoon.
INTC
Intel (INTC) gave back all of its post-earnings gains on Monday, sliding 4% on the day. The stock had initially surged 15% following its earnings release, but the rally was completely wiped out by the close.
According to data from Kobeissi Letter, Intel has lost $90 billion in market capitalization since 4:20 PM ET on Sunday. The sharp reversal underscores the volatile reaction to the chipmaker's quarterly report.
Source: The Kobeissi Letter