Why Micron Stock Just Sank
Leading AI stocks are under pressure this week, and Micron just got hit with a substantial sell-off.
Overview
Micron (NASDAQ: MU) stock had a tough day on the market on Thursday, with the company's share price declining 4.7% in the day's trading. Meanwhile, the S&P 500 and the Nasdaq Composite each declined 0.6% in the session. The memory chip leader's share price had been down as much as 5.3% in the session.
The broader market saw bearish momentum in Thursday's trading as investors repositioned in response to macroeconomic risk factors. In addition to concerns about Treasury bond yields, oil prices, and inflation, Micron's share price was also pressured by regulatory concerns surrounding the artificial intelligence industry and news about the company's employee compensation plans.
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Originally published at www.fool.com.