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Amtech Systems: A Wild Ride Up and Down the Market

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It was a rollercoaster of emotions for Amtech Systems, Inc. ASYS as its shares took a steep nosedive on Thursday after the company reported a disappointing fourth-quarter sales and issued bleak first-quarter sales guidance.

The fourth-quarter sales of $27.70 million missed the mark by a significant margin, failing to meet the $34.50 million consensus estimate. The first-quarter revenue outlook of $21 million to $24 million fell well short of the expected $34.15 million.

Mark Miller from Benchmark didn’t mince words as he downgraded Amtech Systems from Buy to Hold, further contributing to the plummeting stock price, which ended the day down 30.6% at $4.16.

But it wasn’t all doom and gloom as several other stocks experienced a surge in the mid-day session.

Winners

  • Freight Technologies, Inc. FRGT shares skyrocketed 322% to $1.14 after securing a deal with Amazon Mexico for its Fr8App logistics solution.
  • SRIVARU Holding Limited SVMH surged 74.8% to $0.7000.
  • XBP Europe Holdings, Inc. XBP bounced back with a 49% climb to $8.46 after a recent 20% dip.
  • TPI Composites, Inc. TPIC rose 46% to $3.1350 following a refinancing deal with Oaktree, strengthening their liquidity and financial flexibility.
  • Nxu, Inc. NXU surged 43.6% to $0.0280 after signing an investment deal with Lynx Motors.
  • Canterbury Park Holding Corporation CPHC soared 31% to $18.70.
  • View, Inc. VIEW climbed 29% to $5.14.
  • Hanryu Holdings, Inc. HRYU leaped 27.1% to $1.3850 after a 28% rise the previous day.
  • Esperion Therapeutics, Inc. ESPR saw a 23.2% hike to $1.8603, buoyed by news of an updated indication from the FDA for its NEXLETOL and NEXLIZET tablets.
  • Redfin Corporation RDFN climbed 21.8% to $10.26.
  • Codexis, Inc. CDXS surged 20.5% to $2.5184, celebrating a major milestone with the ECO Synthesis platform.

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