ACMR - Why ACM Research Stock Was Diving Today
2024-03-19 13:11:00 ET
Shares of ACM Research (NASDAQ: ACMR) were falling sharply today in a broad-based sell-off in artificial intelligence (AI) stocks following Nvidia 's GTC Conference kickoff yesterday as the "sell-the-news" event seemed to lead to some of the air coming out of the AI rally. Additionally, ACM also announced a shelf offering, setting it up to sell new shares, though it didn't say how much it was planning to sell.
Investors tend to react poorly to secondary offerings as they dilute existing shareholders and may signal that the company thinks the stock value is worth taking advantage of due to its high price. As of 11:54 a.m. ET, the stock was down 10.7%.
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Why ACM Research Stock Was Diving Today