Everspin Technologies is trading 6.4% down at $17.25 following a sharp post-rally pullback and growing concerns about its valuation.

  • Kerrisdale Capital issued a short call on the stock, highlighting overvaluation after a significant run fueled by defense contracts and AI-adjacent hype.
  • Sentiment is further pressured by a broad sell-off in the semiconductor sector as investors move away from stretched multiples.