European Tech Darling Brought Down to Earth in Two-Day Slump
- BE Semiconductor sinks, erasing almost all year-to-date gain
- Analysts turn more cautious about uptake of its key technology
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A seemingly unstoppable rally in BE Semiconductor Industries NV has come to an abrupt halt in just two days.
Shares of the Dutch chip equipment maker fell almost 9% on Monday, extending Friday’s 16% drop that was caused by worries over delays in the uptake of a key technology. That erased nearly the entire year-to-date gain in a stock that more than doubled in 2023.