SMTC is trading 6.2% down at $160.96 in pre-market, retreating after a sharp 10.4% gain to $174.73 on June 22. - Yesterday's rally was primarily fueled by the company's inclusion in the S&P MidCap 400 index, effective June 22, and continued positive sentiment around AI data center demand. - Today's decline appears to be a partial pullback and profit-taking after the significant surge, coinciding with a weaker broader market, with U.S. index futures also trading lower this morning.