It’s not a common sight these days, but Intel stock is in a lot of hot water.
First, the company is under fire from the SEC over its dealings with a Chinese tech giant, and then it faces scrutiny from federal prosecutors over its relationship with a former Trump campaign adviser.
And then the company has to contend with a class action lawsuit over allegations of “false statements” and “fraudulent statements.”
Intel’s stock fell nearly 10% in early trading Wednesday, and investors have already begun to pay attention to the situation.
Some are worried that the company’s stock could plunge even further.
That’s because, according to a report published Wednesday by The Wall Street Journal, Intel is considering selling off its assets to pay off some of its debt.
The stock is down nearly 10%.
But some analysts aren’t buying the notion that Intel is on the verge of defaulting on debt, or that Intel will need to make drastic cuts in its workforce to avoid a stock crash.
“I don’t think there’s a great deal of fear here,” said Scott McDevitt, a senior analyst with BMO Capital Markets. “I don