Hot stock: AEM falls to near 3-year low after H2 results release

SHARES of AEM fell on Monday (Feb 27) after the semiconductor equipment maker released disappointing results for the second half year ended Dec 31, 2022. 

The counter came under sustained selling throughout the day, and traded at an intra-day low of S$3.02 in the late afternoon before ending 33 cents, or 9.8 per cent, lower at S$3.05 on turnover of 6.8 million shares. It closed at a near three-year low.

AEM last Friday reported second half-year earnings of S$44 million, down 30 per cent from S$62.4 million the previous year as revenue dropped 12 per cent on a year-on-year basis.