GCT Semiconductor up on deal with Aramco to develop 4G, 5G systems in Saudi Arabia

GCT Semiconductor Holding

05/04/2024 13:23

** Shares of GCT Semiconductor Holding  GCTS.N  up 25% at
$7.11 premarket
    ** Co signs agreement with Aramco to accelerate the
development of 4G and 5G ecosystem in Saudi Arabia
    ** GCT is a 'fabless' firm - that designs but outsources
manufacturing - of advanced 5G and 4G LTE semiconductor
solutions
    ** Stock down 86% since March 27, its first day of trading
on NYSE when it soared 6-fold after completing SPAC deal

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))