Why Universal Display Shares Fell 27% in the First Half of 2020
Shares of Universal Display (NASDAQ: OLED) fell 27.4% in the first half of 2020, according to data from S&P Global Market Intelligence. The stock generally followed the market through the COVID-19 crisis, punctuated by two extra-sharp corrections in January and March.
The technology researcher and materials reseller behind the organic light-emitting diode (OLED) screens found in many smartphones and high-end TV sets charged into 2020 on a full head of steam. The stock more than doubled in 2019 as OLED screens moved deeper into the mainstream and panel-making clients continued to expand their OLED manufacturing facilities.
The coronavirus crisis started throwing roadblocks in front of Universal Display in January when several Chinese panel factories and smartphone-building facilities were closed down due to virus concerns. Share prices fell 14.5% that month.
Source Fool.com
