What's Going On With GlobalFoundries Stock Today?
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Funding Announcement: GlobalFoundries Inc. has received up to $1.5 billion in funding from the U.S. Department of Commerce through the CHIPS and Science Act to enhance semiconductor manufacturing, including expansions in New York and Vermont aimed at meeting growing industry demands.
Stock Performance and Job Creation: Despite the funding news, GFS shares fell by 2.01%, continuing a trend where the stock has lost over 29% in the past year; the expansion projects are expected to create nearly 1,000 manufacturing jobs and over 9,000 construction jobs while aligning with sustainability goals.
Analyst Views on IPO
Wall Street analysts forecast IPO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IPO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 47.340
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Current: 47.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
