🔴 TSM is trading 3.3% down today after announcing plan to sell stake in Vanguard International

Taiwan Semiconductor is trading at $404.08, down 3.3% on news of a planned strategic asset sale amid a broader market downturn.

• The company announced on May 15 that it plans to sell up to 152 million shares of Vanguard International Semiconductor, representing about 8.1% of Vanguard's stock, to focus its resources on core business activities.
• The move follows a day after the stock hit a record high, which prompted a sale of TSM shares by Cathie Wood's ARK Invest on May 14.
• The stock is also caught in a wider tech and growth equity sell-off, with Nasdaq 100 futures trading down as much as 1.5%.