Soitec Stock Plummets 6% Ahead of Annual Results
The Isère-based semiconductor substrate specialist experiences a sharp slowdown this Wednesday mid-session. The stock is an exception in a generally positive Parisian index, just hours before the release of its annual financial statements. Today's drop interrupts one of the most spectacular bullish runs on the French stock market.
A 6.3% Drop Places Soitec at the Bottom of the SBF 120
Soitec stock falls 6.3% to €156.20, ranking last in the SBF 120 while the broader index is up by 0.89%. This movement extends the break that began the previous day, already penalized by a decline of nearly 4%. Despite this downturn, the three-month performance remains impressive, over 270%, and the weekly gain still reaches 9.12%. According to reviewed statements, four funds accumulate 3.27% of the capital sold short, a level that has remained stable over thirty days. This selling presence has not accelerated during the period, but remains sufficiently visible to indicate that part of the market is still positioned against the stock. This should be monitored without overinterpreting, in a context where the stock has quadrupled in three months.
The Pullback Brings the Price Back to the MM20 After an Extraordinary Stock Market Journey
After breaking through the €171 resistance on May 22, the price sharply diverges from its recent highs and returns to its 20-day moving average, now at €150.71. The gap between the price and this MM20 has narrowed to 3.64%, the thinnest cushion observed in several sessions. The RSI at 63 is gradually exiting the overheated zone that characterized most of the rally, without yet moving into neutral territory. The distance from the long-term averages remains considerable, with the price more than 200% above the MM200, reflecting the extent of the journey since the March low. The session's context is also marked by Neel Kashkari's statements on inflation risk, which maintain pressure on the most strained growth stocks. The imminent release of the annual results will be the next concrete checkpoint for the stock.
