this post was submitted on 30 Oct 2026
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238
Intel heads for worst day on Wall Street in more than 50 years on weak guidance (www.cnbc.com)
submitted 1 week ago by return2ozma@lemmy.world to c/technology@lemmy.world
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[–] FrankFrankson@lemmy.world 7 points 6 days ago* (last edited 6 days ago) (1 children)

The Trump admin purchased $8.9 billion dollars worth of intel stock. Pumped the shit out of the stock basically.

[–] 8oow3291d@feddit.dk 0 points 6 days ago* (last edited 6 days ago)

Ah, thanks, I were too lazy to read the article.

The article does still say:

While it’s still a profitable investment, the value of those holdings dropped by about $12 billion on Friday.

So while fuck Republicans in general, and the government taking such a stake is not very free market, it is not completely obvious that taking the stake was stupid. Losing $12 billion on a $9 billion investment is a clue :P.