Why Aehr Test Systems Fell Hard Today
While the Nasdaq was up strongly on Friday, semiconductor equipment maker Aehr Test Systems (NASDAQ: AEHR) was falling hard in the opposite direction, down 17% as of 1:39 p.m. ET.
Aehr Test makes burn-in equipment that helps turn silicon into silicon carbide (SiC), as well as machines that produce gallium nitride (GaN). These are key materials in chips for electric vehicles, the modern energy grid, and advanced communications. Therefore, Aehr has seen a surge in orders over the past year, and the stock had rallied in a big way quarter to date.
Despite reporting solid earnings last night that beat analyst expectations, investors appear to be taking profits in this stock, which is still up 58% year to date, even factoring in today's sell-off. And today's announcement of the CFO's retirement probably isn't helping either.
Source Fool.com
