AMKR Stock Slumps Amid Secondary Public Offering Of 10M Shares

Amkor Technology (AMKR Stock) announced on Wednesday that the company stockholder 915 Investments intends to offer 10 Million shares in a secondary public offering. It impacted the stock price as the price showed a gap-down opening of 15% and slumped a total of 16% at the time of closing. Amkor Technology’s (AMKR stock) price has been volatile with major ups and downs in the past 6 months and trading in a 40% range with lower support at $20 and resistance at $30. The daily chart shows that the price suffered rejection from the 50-day EMA and thereafter the news of a secondary public offering triggered a gap-down opening thus sinking the price below the 200 EMA.

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