🔴 AXT Inc. falls 5.6% amid broader chip selloff, following CEO stock sales

AXT Inc. is trading 5.6% down at $100.07 amid a broader semiconductor selloff triggered by Broadcom's (AVGO) post-earnings decline.

• The move also follows recent SEC filings that reported CEO Morris S. Young sold 197,498 shares on June 1 and June 2.
• Broadcom's weaker-than-expected guidance for AI chips has pressured the entire sector, contributing to AXT's slide despite a lack of other direct company news today.