Sector Update: Tech

Last Updated: Tuesday, May 17, 2022 3:41 PM | MT Newswires

Technology stocks were finishing Tuesday near their intraday highs, with the SPDR Technology Select Sector ETF (XLK) rising 2.9% and the Philadelphia Semiconductor Index gaining 5.0% this afternoon. In company news, Microvast Holdings (MVST) added nearly 17% after the battery technology company nearly halved its Q1 net loss compared with the same quarter in 2021, posting a $0.15 per share loss, while revenue increased 146% year-over-year to $36.7 million.

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