Lam Research Shares Soar Up to 6.7%

On Monday, Lam Research Corporation shares experienced a significant increase, rising as much as 6.7% during intraday trading. This noteworthy surge marked the stock's largest intraday gain since December 2, 2024. The stock's rise brought it close to testing the 23.6% Fibonacci retracement level, a technical indicator used by traders to predict potential reversal points in an asset's price.

The increase in Lam Research's stock price reached $80.15, attaining its highest level since October 15, 2024. This performance indicates a strong start to the week, showcasing the company's recovery from the lower levels experienced in previous months.

The company's shares have been on an upward trend for the past year. According to the latest closing, Lam Research's stock has risen by 2.6% over the last 12 months, reflecting stable growth amid market fluctuations.