🔴 QCOMD.BA Falls 5% After SpaceX Denial and Russell Index Removal

QCOMD.BA is trading 5% down today at $16.37, extending a multi-day decline.

• The stock's significant drop is attributed to Elon Musk's denial of reports that SpaceX was developing an AI device using Qualcomm's Snapdragon chip, reversing earlier positive sentiment.
• Additional downward pressure came from Qualcomm's removal from several Russell indexes, likely triggering automatic selling by funds tracking these benchmarks.
• This decline coincided with broader semiconductor and AI sector volatility, as investors took profits amid valuation concerns in the chip industry.