VMW - Why VMware Stock Just Dropped 7%
2023-10-17 11:53:41 ET
Shares of cloud software provider VMware (NYSE: VMW) tumbled 7.2% through 11 a.m. ET on Tuesday amid reports that Chinese regulators may delay -- or forbid -- Broadcom 's proposed acquisition of the company.
It's worth pointing out, though, that today's decline comes on the heels of several weeks of gains in VMware stock on opposite rumors that China was about to approve the merger, and leaves VMware stock trading right about where it was at the start of the month.
Nor is October the only month that has seen sharp swings in sentiment surrounding Broadcom stock, tied to a "will they or won't they" analysis of Chinese regulators' intentions. In fact, as far back as August Broadcom was saying it thought it had a green light from China to buy VMware .
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Why VMware Stock Just Dropped 7%