Bloomberg is reporting that the Trump administration is looking to take a 10% stake in Intel. This is a follow-up to the late last week’s story of an investment by the US.
Shares of Intel are currently trading down $0.61 or -2.63% at $23.92. At the high price last on Friday, the price extended up to $25.65. The high price today was at $24.90.
The high for the year was reached back in February at $27.55. The low was in April at $17.70.
Technically the news last week push the price away from its 100 and 200 day moving averages at $21.26 and $21.67 respectively. That tilts the short-term bias to the upside but there is more work to do to increase the bullish bias after the sharp move lower in 2024 that took the price down from a high of $51.28.
