AXTI is trading at $84.86 (8.2% down) in pre-market as investors lock in profits following a volatile two-week surge fueled by AI-related semiconductor optimism. - The company is participating in the Northland Securities Virtual Growth Conference today, June 23, 2026. - The pullback follows double-digit gains on June 22 and a broader multi-week run-up tied to increasing demand for AI InP substrates. - The downward move suggests a technical correction as the market cools off from the stock's recent sharp appreciation, possibly reflecting unmet expectations from the conference.