Why ASML Holdings Plunged Today
Shares of ASML Holdings (NASDAQ: ASML) fell on Monday, plunging as much as 8.2%, before recovering to a 6.7% decline as of 2:30 p.m. EDT.
The news has been terrific for ASML as of late, with the stock running up over 75% at one point in late June, and its valuation exceeding 60 times earnings.
That kind of run-up leaves even the best stocks vulnerable to a pullback at the slightest hint of negative news. And investors got a negative rumor today from tech publication The Information, which reported that China is beginning to make machines that will compete with ASML's.
Source Fool.com
