Micron Shares Rise as Webull Plummets Amid China Probe
Micron Technology shares rose on AI optimism while Webull stock crashed following reports of structural ties to the Chinese government.
The U.S. stock market experienced divergent movements on Wednesday as the S&P 500, Dow, and Nasdaq all closed lower, retreating from record highs.
Micron Technology shares rose 4% after Dow Davidson set a Street-high price target of $3,000, citing long-term AI tailwinds. In other gains, Black Hills Corporation shares surged over 7% following an agreement with Google.
Conversely, Webull shares plummeted approximately 19%. The decline followed reports that the House Select Committee on China is preparing to release a report alleging the brokerage firm is structurally tied to the Chinese government, which has raised national security concerns.
In the retail sector, Lululemon CEO Heidi O'Neill initiated a management shake-up to improve departmental collaboration. O'Neill ousted two executives and hired former leaders from Nike and Walmart to lead the effort.
