Alpha and Omega Shares Drop as AI Chip Rally Stalls
Alpha and Omega Semiconductor shares dropped 8.1% to end Friday at $45.35 on Nasdaq. The stock started the session at $49.45 and climbed as high as $49.95 before pulling back near the lows at $44.66 by the close. It was a sharp turnaround late in the week for the stock, which had recently traded close to its 52-week high. The move came as the rest of the market traded stronger. The Nasdaq Composite ticked up 0.2% while the S&P 500 added 0.22%, lifted by some tech names, Reuters reported.