On June 23, AXT Inc fell 8.81% in pre-market trading, trading at $84.54/share, with turnover of $3.02 million. The decline comes after the stock surged 9.1% on June 22 and 11.23% intraday on June 23, driven by intensified indium export scrutiny and indium phosphide supply chain shortage narratives, triggering significant short-term profit-taking.

Simultaneously, the semiconductor equipment sector weakened broadly, with Applied Materials down 5.53%, ASML down 6.75%, KLA-Tencor down 5.62%, Lam Research down 5.4%, and Teradyne down 5.88%, dragging individual stock performance. Additionally, CEO Morris S Young recently sold approximately 197,500 shares, while directors Jesse Chen and David C Chang continued to reduce holdings, with concentrated insider selling suppressing rebound momentum.

Notably, while the indium export review tightening by Chinese customs — requiring European buyers to disclose end-user information and extending North American approval timelines — had reinforced supply shortage logic for the InP substrate leader, the triple pressure of profit-taking, sector downturn, and executive selling outweighed the bullish narrative in pre-market trading.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)