ON Semiconductor Corporation is trading at $118.79 (up 5.2%) in pre-market as the stock rebounds from a sharp 4.5% decline triggered by a Fed-driven tech selloff in the previous session.
- The upward move is driven by a broader risk-on tone and a recovery in technology stocks, with major indices and futures trading higher pre-market.
- The price action partially reverses yesterday’s policy-induced pressure on growth and semiconductor names, which had pushed the stock down to approximately $112.97.
- With no company-specific news reported overnight, the gains appear tied to general market sentiment and sector-wide momentum.