🔴 GFS is trading 5% down today after its first dividend record date and a broader tech selloff

GFS is trading 5% down at $85.22 following a sharp two-day rally into its first-ever dividend record date and a wider tech-led market pullback.

• The stock had jumped more than 10% over the last two trading sessions as investors positioned ahead of GlobalFoundries’ inaugural $0.12 quarterly dividend.
• Shares are now facing pressure from profit-taking and an ongoing rout across the semiconductor and technology sectors.