Shares of Intel (NASDAQ: INTC) took a dive last month primarily due to a disastrous second-quarter earnings report that included subpar results, disappointing guidance, the elimination of its dividend, and a restructuring plan that includes laying off at least 15% of its workforce.

The news undermined any hope that Intel was making progress on what was already supposed to be a turnaround. Later in the month, the company lost a key director, who dismissed the company's slow-footed approach to the chip sector and said the company was unwilling to take risks. On the last day of the month, Intel got a reprieve after Bloomberg reported that the company was looking into potential strategic options, including separating the manufacturing business from the core chip-design operation.

According to data from S&P Global Market Intelligence, the stock finished August down 28.2%. You can see its performance in the chart below.

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Source Fool.com