ZIM - These 2 Stocks Pressured Markets Monday Morning
2023-05-22 09:14:18 ET
The stock market did well last week, posting solid gains and building up some momentum to carry over the weekend. Futures contracts on major market indexes were volatile Monday morning, staying relatively close to unchanged but managing to post some very small gains in premarket trading.
Things weren't as fortunate for shareholders in a pair of individual stocks, however. Both Micron Technology (NASDAQ: MU) and Zim Integrated Shipping Services (NYSE: ZIM) had to deal with sizable losses on Monday morning. Below, you'll get the scoop on what sent these stocks lower and whether investors should have any long-term concerns about the respective businesses.
Shares of Micron Technology fell more than 4% in premarket trading on Monday morning. The move lower for the memory chip semiconductor stock came as tensions between the U.S. and China came to a head and prompted a direct move against Micron's business.
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These 2 Stocks Pressured Markets Monday Morning