Why Akoustis Technologies (AKTS) Shares Are Getting Hammered
Portfolio Pulse from Henry Khederian
Akoustis Technologies Inc (NASDAQ:AKTS) shares plummeted by 48% to $0.19 after a jury ruled in favor of Qorvo Inc in a lawsuit, ordering Akoustis to pay $38.6 million in damages. The verdict has created financial uncertainty for Akoustis, potentially impacting their ability to raise capital and continue operations, and may lead them to consider bankruptcy protection.
May 20, 2024 | 4:11 pm
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Akoustis Technologies shares dropped 48% after a jury ruled in favor of Qorvo Inc, ordering $38.6 million in damages. The verdict has created financial uncertainty, potentially impacting their ability to raise capital and continue operations, and may lead them to consider bankruptcy protection.
The significant drop in share price is directly linked to the adverse legal ruling and the substantial financial penalty imposed on Akoustis. The company's financial uncertainty and potential bankruptcy are critical factors for investors.
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