SPY422.60-0.51 -0.12%
DIA338.78-0.67 -0.20%
IXIC14,271.73+18.47 0.13%

Sector Update: Tech

05/11/2021 11:42

03:40 PM EDT, 05/11/2021 (MT Newswires) -- Technology stocks steadied this afternoon following steep declines earlier Tuesday, with the SPDR Technology Select Sector ETF slipping 0.5% in late trade while the Philadelphia Semiconductor Index was falling 0.1%. In company news, Alfi (ALF) slid 9.4% after the software as a service company said underwriters for its May 6 initial public offering exercised their overallotment option by buying 559,701 common shares at $4.15 each, boosting gross proceeds for the deal by $2.3 million to a total of $17.8 million. The underwriters also received warrants to purchase an additional 559,701 shares.