Why Akoustis Technologies (AKTS) Shares Are Getting Hammered

Zinger Key Points
  • Akoustis Technologies shares are trading lower by 48% during Monday's session.
  • A jury in the U.S. District Court for the District of Delaware ruled in favor of Qorvo in a lawsuit.

Akoustis Technologies Inc AKTS shares are trading lower by 48% to $0.19 during Monday’s session after the company announced that a jury in the U.S. District Court for the District of Delaware ruled in favor of Qorvo Inc. in a lawsuit against Akoustis.

Although some of Qorvo’s claims were dismissed or decided in Akoustis’ favor, the jury found that Akoustis willfully misappropriated Qorvo trade secrets and infringed on two Qorvo patents. Akoustis was ordered to pay $38.6 million in damages. Akoustis plans to contest the verdict through post-trial motions and potentially an appeal.

Akoustis says the verdict has created financial uncertainty for the company, potentially impacting their ability to raise capital and continuing operations, and may lead them to consider bankruptcy protection.

See Also: What’s Going On With Nvidia Stock Monday?

Should I Sell My AKTS Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Akoustis Technologies have decreased by 93.62% in the past year. An investor who bought shares of Akoustis Technologies at the beginning of the year would take a loss of $0.61 per share if they sold it today. The stock has fallen 66.14% over the past month, meaning an investor who bought shares on Apr. 1 would see a capital loss of $0.36.

Akoustis Technologies shares have an all-time high of $11.24, representing 5972.39% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Akoustis Technologies stock currently has an RSI of 8.67, indicating oversold conditions.

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AKTS has a 52-week high of $3.57 and a 52-week low of $0.18.

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