AXT is trading 6.2% down at $64.40 in pre-market as investors lock in profits following a significant rally fueled by AI and semiconductor optimism.

  • Rising bearish options activity and technical overbought conditions are creating downside pressure despite the company's strong Q2 fundamentals and AI-related demand.
  • The current pullback follows several days of sharp gains, with traders reacting to warning signals after last week's surge.