QUALCOMM, Inc. (NASDAQ: QCOM)
QUALCOMM wasn’t off to the best of days in the market today. In fact, when the market opened, the stock found itself in the red. Through the morning, the stock worked to recover, finding its way to the green. However, it soon fell again, ultimately spending most of the day below the breakeven point. And then minutes ago, things went from bad to worse as the stock started to slide downward in a big way. Below, we’ll talk about what we’re seeing from QCOM, why, and what we’ll be watching for ahead.
What We’re Seeing From QCOM
As mentioned above, today hasn’t been the best of days for QUALCOMM in the market. When the trading session opened for the day, the stock was already slightly in the red. From there, it went on a slow, yet steady recovery that ended up lingering around the breakeven point. However, minutes ago, the stock started to dive in a big way. At the moment (1:25), QCOM is trading at $65.05 per share after a loss of $1.82 per share (2.72%) thus far today.
Why The Stock Is Spiking Downward
As usual, as soon as the CNA Finance team received the notification from Tradespoon that QCOM was taking a dive, we started digging to see why the fall was happening. In this case, it didn’t take long to dig up the story. It seems to be the result of a recent Bloomberg report.
According to the Bloomberg report, QUALCOMM is facing a United States antitrust case. The case is allegedly surrounding licensing, however, there hasn’t been much data released with regard to the case.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on QCOM. In particular, we’re interested in learning more about the antitrust case against the company. Given that the news came from Bloomberg, we can rest assured that this isn’t likely a rumor. However, details would be great! We’ll be following the story and bringing it to you as it breaks!
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