The opening of markets on Monday commenced with a bleak outlook for Apple’s immediate future, as inter-session trading over the weekend dramatically cut the share price of the iPhone maker and other major stocks, caused through the ongoing coronavirus panic by investors.
In a continuation of financial uncertainty that has plagued stock markets around the world in recent weeks, Apple’s opening on Monday was dramatically different compared to its closing price before the weekend. On Friday, Apple closed the trading day at $277.97, a full $29.74 above the closing value on Thursday.
By Monday, after-market trading has effectively wiped out Friday’s gains, with AAPL heading below $240 just before 9 am EDT. At $240, this would equate to a loss over the weekend of $37.97.
Apple opened on Monday at $243.34, representing a drop of $34.63 over Friday’s closure. Its market capitalization is now down to $1.06 trillion.
Read more at AppleInsider.com