Reported about 2 months ago
Intel's stock fell 2.7% following its announcement of selling its entire stake in Arm Holdings, a move that investors viewed negatively. The semiconductor company, facing challenges amidst restructuring efforts, generated approximately $146.7 million from this sale, yet it also removed a potential positive catalyst as it struggles with a 60% drop in stock value this year. Despite the downturn, Intel did announce a partnership with Karma Automotive for developing advanced vehicle software, which could signal future growth prospects.
Source: YAHOO