🟢 Globalfoundries is trading 11.3% up today on bargain hunting after semiconductor rout

Globalfoundries is trading 11.3% up at $54.55 in pre-market, rebounding sharply from a 6.5% drop on July 28 during a broad semiconductor selloff.

• The move appears driven by bargain hunting and stabilization in tech futures following sector-wide concerns over increased Chinese competition.
• No new company-specific catalysts have been reported overnight, with the market now looking ahead to the next earnings event.
• Globalfoundries is scheduled to report its next quarterly financial results on August 5, 2026.