Flex Ltd. provides technology innovation, supply chain, and manufacturing solutions to data center, communications, enterprise, consumer, automotive, healthcare...
Flex (FLEX.US) opened lower following news of major insider selling, then declined steadily during regular trading to close at $144.475, down 5.90%, near session lows. The stock fell 4.20% in pre-market to $152.53 despite S&P 500 inclusion expectations, but selling pressure intensified after the open, with the intraday low of $143.63 representing a ~14% decline from the 52-week high of $166.86. Although Q4 revenue and net profit rose 16.86% and 12.61% YoY respectively, the CEO's disposal of $55.71 million in shares and cumulative insider sales exceeding $14.2 million eroded confidence; the stock also traded below its 20-day MA of $151.18, while still up 202% from its 52-week low of $47.83, indicating weakened near-term momentum despite strong year-to-date gains. However, after-hours trading saw a rebound to $153.40, suggesting some dip buying.
Pre-market hot trades in US stocks: Cerebras pre-market down 3.14%; Flex pre-market down 3.10%
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