🔴 AXT is trading 4.65% down in pre-market — no clear company-specific catalyst identified

AXT is trading down 4.65% now at $67.45 in pre-market, with no clear company-specific catalyst identified for August 24, 2026.

• The prominent Lumentum supply agreement was announced on July 29, 2026—not overnight—and therefore does not explain this decline.
• Recent volatility followed strong earnings and indium phosphide pricing news, but those developments were earlier and do not establish a current cause.