LYTE is trading at $18.65, down 7.87%, as doubts over AI investment returns pressured technology shares.
- Tesla’s lower capital-spending forecast and Meta’s costly AI expansion revived doubts; Reuters reported that results failed to ease pressure on high-growth stocks.
- Escalating Middle East tensions lifted oil prices, while U.S. futures fell, adding to broader risk aversion.
- Semiconductor strength tied to SpaceX and Super Micro was a countervailing signal, not evidence of a sector-wide rally.