Why STMicroelectronics Stock Plummeted Today
(NYSE: STM) stock suffered a big sell-off in Thursday's trading. The company's share price closed out the day's session down 13.1%, despite the S 500 (SNPINDEX: ^GSPC) climbing 0.6% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rising 0.9%.
Semiconductor stocks generally saw strong momentum in today's trading, but STMicroelectronics wasn't able to participate in the gains. Despite better-than-expected third-quarter results, the company's stock saw a big valuation pullback.
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Source Fool.com
STMicroelectronics N.V. ADR Stock
€29.00
-1.400%
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 34 € shows a slightly positive potential of 17.24% compared to the current price of 29.0 € for STMicroelectronics N.V. ADR.
