SONY is trading at $21.07 (-7.14%) in pre-market as geopolitical tensions in the Middle East and rising oil prices drive a sharp market-wide selloff.
- The decline outpaces major indices, with the S&P 500 down 1.35% and Nasdaq futures falling 2% following reports of Iran closing the Strait of Hormuz.
- No company-specific negative catalysts were identified; Sony recently finalized a $460 million deal on March 2 to secure 80% control of the Peanuts franchise.
- Market sentiment remains risk-off as geopolitical escalation drives global futures lower and triggers a spike in energy costs.