Identiv Shares Drop 6% in Broader Nasdaq Pullback; Investors Watch RFID Plans
Identiv Inc. dropped 6.3% to $4.02 at the session low on Friday in regular Nasdaq trading. The stock started at $4.25 and hit $4.26 before sliding as tech stocks fell in a broader selloff. Around 46,000 shares traded. The company’s market cap is about $96.6 million. Stocks dropped as investors reacted to higher rates, not to a new Identiv alert. Markets were hit after May jobs numbers beat forecasts, lifting Treasury yields. Wall Street indexes traded lower. Charlie Ripley at Allianz Investment Management said some were taking “chips off the table” after equities' recent gains.