Bloomberg is reporting that the Trump administration is looking to take a 10% stake in Intel. This is a follow-up to the late last week’s story of an investment by the US.
However, it seems it will not be an investment, but the government would be given converted equity from the grants given to Intel by the Chips Act.
Trump has publically called the Chips Act a disaster (or something to that effect). The Deal Maker…deals in good and bad.
Shares of Intel are currently trading down $0.61 or -2.63% at $23.92. At the high price last on Friday, the price extended up to $25.65. The high price today was at $24.90.
The high for the year was reached back in February at $27.55. The low was in April at $17.70.
Technically the news last week pushed the price away from its 100 and 200 day moving averages at $21.26 and $21.67 respectively. That tilts the short-term bias to the upside but there is more work to do to increase the bullish bias after the sharp move lower in 2024 that took the price down from a high of $51.28.
