QUICK SPARK: Marvell Stock Eyes Worst 3-Day Drop Since September 2001
Piero Cingari 1 day ago
TechMoversSector ETFsM&ATop StoriesLarge Cap
Marvell stock has fallen 27.7% in three sessions after its $115 billion all-stock Lumentum deal, its worst three-day drop since 2001.
Marvell Technology Inc. (NASDAQ:MRVL) just agreed to the biggest deal in its history. Shareholders are answering with the stock’s worst sell-off in a generation.
Shares fell 7.4% to about $182 on Monday, extending a three-day slide to 27.7%. That puts Marvell on track for its steepest three-session drop since Sept. 27, 2001, deeper than the 27.2% plunge of March 2025.
The selling began Oct. 29, after reports surfaced that Marvell was in talks to buy Lumentum Holdings Inc. (NASDAQ:LITE). On Monday, the company confirmed an all-stock deal valuing the laser maker at $115 billion.
Lumentum holders will receive 4.5 Marvell shares each and own about a third of the combined company. As a result, existing investors face heavy dilution. Roughly $61 billion of Marvell’s market value has vanished since Oct. 28.
Meanwhile, the VanEck Semiconductor ETF (NASDAQ:SMH) edged up 0.2%.
Chart: Marvell Technology daily three-day rate of change (%). Source: TradingView
Image: Envato Elements