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Technology stocks fell Friday, with the Technology Select Sector SPDR Fund (XLK) sinking 1.3% and the Philadelphia Semiconductor Index declining 2% this afternoon.
In company news, Otonomo Technologies (OTMO) dropped 16% after the company and Urgent.ly, a provider of digital roadside services, said late Thursday that they signed a definitive agreement to merge in an all-stock transaction.
Mobile Global Esports (MGAM) slid 12%. The company signed a letter of intent with Nils Lahr and OrionsWave to acquire, implement and relaunch their social challenge and betting platform and technology.
Amkor Technology (AMKR) was down 6.9%. The company plans to close its Shanghai plant for a week to cut costs, the South China Morning Pos reported, citing an internal notice.
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