Technology Sector Update for 06/23/2023: SMX, NKLA, WLDS


Tech stocks were lower late Friday with the Technology Select Sector SPDR Fund (XLK) down 1% and the Philadelphia Semiconductor index falling 1.7%.

SMX shares slumped 61% after the company launched an underwritten public offering of securities to raise about $3.2 million.

Nikola (NKLA) said a fire behind its corporate headquarters in Phoenix “affected” some of its battery-electric trucks, but no one was injured. Its shares dropped 5.4%.

Wearable Devices (WLDS) was rising 11% after the company said it’s extending its artificial intelligence-based Mudra functionality to include Android devices.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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