Why Magnachip (MX) Shares Are Getting Obliterated Today : vi

Why Magnachip (MX) Shares Are Getting Obliterated Today

Shares of semiconductor manufacturer Magnachip Semiconductor (NYSE:MX) fell 15.9% in the morning session after the company reported fourth-quarter results, with revenue and gross margin falling below expectations. In addition, its full-year 2024 revenue and operating profit guidance fell short of Wall Street's estimates as the company announced it would transition its Gumi Fab from lower-margin Transitional Foundry Services products to higher-margin Power products. Magnachip announced that start

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