AXT is trading at $113.76 (-6.70%) as the stock faces persistent pressure from a proposed 71% increase in share authorization and ongoing geopolitical headwinds.
- Shareholders are set to vote May 14 on increasing authorized shares to 120 million, intensifying dilution fears following a recent share offering priced at a significant discount.
- The stock continues to face an overhang from China's export controls on indium phosphide substrates while initial AI-driven demand hype begins to fade.