Micron Stock Crashes 11% as Taiwan Plant Halt Deepens Chip Selloff
Micron’s stock crashed 11% on Thursday, November 5, after Bloomberg reported the memory chipmaker has largely stopped building a $4.5 billion plant in Taiwan. Shares traded at $708.64 in late morning, down from Wednesday’s close of $795.23. The drop capped a brutal week for the stock. Micron fell 7% on Wednesday, and Thursday’s slide pushed it roughly 42% below its record close of $1,213.56 on June 25. It also slipped below its 200-day moving average. ...