Flex Shares Lose Steam After AI Rally, Balance Sheet Scrutiny Rises on $1.45 Billion Loan
Flex Ltd. shares dropped Thursday, slipping from a recent AI-infrastructure run. The company is taking on a $1.45 billion term loan while it moves more into data-center power systems. Nasdaq had the stock at $159.77, down $2.17, or around 1.3%. Flex has traded between $150.92 and $161.06. Flex’s new financing hits as the company looks to shake its image as a low-margin electronics assembler. In a June 2 SEC filing, Flex said it signed a senior term loan facility on May 29. The loan is fully funded and matures on Nov. 29, 2027.