New York- Intel stock dropped 2.68% today despite after hour and premarket traders valuing the stock above yesterday's closing price. After hours and pre-market represent the times after the market closes and before it opens where investors trade stocks typically at lower volume. Another quandary for investors was that the SP 500 which is the benchmark index composed of the 500 companies that best represent the United States gained 0.71%. Approximately $3.4 billion dollar changed hands today in Intel as the stock experienced "jaw dropping volume on the day as traders rushed to buy and sell their shares as soon as the market opened.
Allan Edwards the CEO of The Markets Are Open said that companies that fall our of favor with the markets typically drop when they release earnings since short sellers can manipulate the market and create bearish sentiment. This can cause a stock to drop even lower allowing longer term investors an even better price to begin their investment.
Intel stock is currently recommended by The Markets Are Open, it is the worst performing stock in our index, currently down 10% while our average stock is up 14%. To see our Intel report Click Here