LI is trading at $18.55 (-3.39%) during today's open session, tracking a broader market decline as strong labor data reduces expectations for interest rate cuts.
- The drop aligns with sharp losses in major indices, with the S&P 500 and NASDAQ falling 1.32% and 1.77%, respectively.
- Sentiment remains weighed down by a February 9 J.P. Morgan downgrade that cited intensifying competition and sales declines.
- No new company-specific news emerged today, suggesting the move is driven by macro-level profit-taking in tech and risk assets.