SPRX is trading 3.1% higher as AI and semiconductor names stabilize following a heavy profit-taking selloff that dragged the Nasdaq and technology sector lower on August 5.
- AI and semiconductor stocks are showing signs of recovery after significant sector-wide weakness in the previous session.
- Investors are selectively buying beaten-down growth stocks, providing support for information technology-heavy ETFs.
- While tech futures remain mixed, the stabilization of key growth names is driving the pre-market rebound in SPRX.