Everspin Technologies is trading 6.6% down at $16.88 as the semiconductor sector faces continued pressure following a broad market selloff in the prior session.
- The decline follows a nearly 5% drop in the Philadelphia Semiconductor Index on August 18, according to Reuters.
- No company-specific news was identified; the move is attributed to macro headwinds including elevated Treasury yields, higher oil prices, and geopolitical uncertainty.
- Profit-taking in technology and chip stocks is further weighing on the sector's performance after opening lower on August 19.