Rambus (RMBS) shares plummeted 5.32% during intraday trading on Tuesday, marking a significant decline for the semiconductor technology company.

The sharp drop followed reports of notable insider activity at the company, with Director Necip Sayiner engaging in major stock sales. Insider selling by company directors is often interpreted by investors as a potential lack of confidence in near-term prospects, which can trigger selling pressure.

This insider selling activity, which occurred just before the market open, appears to have shaken investor sentiment and contributed to the downward movement in Rambus's stock price during the trading session.