Kioxia ADRs Fall 15% After Third-Quarter Outlook Misses Expectations
Photo: TokenPost
Kioxia's American depositary receipts (ADRs) fell 15% Friday after the company's outlook for its third fiscal quarter came in below market expectations. The decline put attention on the outlook for the broader memory-chip sector. The update ties the share move to a below-expectations forecast for the coming quarter. Kioxia's outlook miss is the central company development, while the 15% ADR drop marks the immediate market response. The memory-chip sector's outlook provides the wider context. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
