Intel stock was falling again ahead of the open Thursday, putting it on course to slump more than 50% in the space of a month.

The bulk of that came following the company's earnings at the end of October, when the shares tumbled 29% in a single day. A weak outlook, supply setbacks, and weakness in its PC business were largely to blame.

But there has been no bounce whatsoever since that brutal selloff. The stock has fallen another 11% in the three trading days since then amid broader tech pressure and was pointing 2% lower in premarket trading Thursday.

It's more bad news for the Trump administration after the Democrats won control of both the Senate and the House following Tuesday's midterm elections.

The U.S. government took a 9.9% stake in the chip maker in August 2025. That was worth around $50 billion on Oct. 5 but currently stands at $25 billion. The government is still up on its initial investment of $8.9 billion.

At Intel's peak in June, Trump said in a social media post: "America's stake is now over 60 Billion Dollars. When was the last time a President made America money??"

Intel CEO Lip-Bu Tan bought $9.7 million worth of shares on Monday through his family trust, according to an SEC filing Wednesday. But the stock has already fallen more than 11% from the price he paid.

When it comes to buying the dip, Tan looks to be in the minority. More than 60% of analysts covering the stock rate it as Hold, according to FactSet data.