The Archer Materials (ASX:AXE) share price is down 5% on Tuesday

The high-tech materials company hasn’t had a good Tuesday.
The post The Archer Materials (ASX:AXE) share price is down 5% on Tuesday appeared first on The Motley Fool Australia. –

The Archer Materials Ltd (ASX: AXE) share price has struggled to get into the green today.

Shares in the high-tech materials company have tumbled more than 5% in today’s session.

Let’s take a closer look at why the Archer Materials share price is struggling today.   

What’s weighing down the Archer Materials share price?

Archer Materials has not released any price-sensitive news that could explain today’s bearish price action.

As a result, it can be assumed that multiple factors are weighing down shares in the high-tech material company.

In addition to general weakness in the broader market, investors could also be locking in profits.

The Archer Materials share price has had a solid month thus far, spurred by its recent patent grant in the US.

The company hit a commercialisation milestone last week after securing a patent in the US for its CQ quantum computing chip.

According to Archer, the patent will provide the company with protection of the related intellectual property rights in the US.

Archer regards the US as a critical strategic jurisdiction to help protect and potentially commercialise its products.

Shares in Archer Materials rocketed more than 29% on the day of the announcement.

As a result, many investors could be looking to lock in their profits.

More on the Archer Materials share price

Archer Materials operates within the semiconductor industry and has a vast pipeline of devices that are in various developmental and commercialisation stages.

In addition to a strong month, the Archer share price has also had a stellar year thus far.

Shares in the high-tech material company have soared more than 232% since the start of 2021.

The company’s share price surged to a record high of $3.08 last month, following another patent update.

However, the company’s share price came under pressure following media speculations regarding its patent application in Australia.

The company rejected the accusations made against its CQ quantum computer chip patent.

At the time of writing, the Archer share price is down more than 4% for the day.

Shares in the tech company were down more than 5% earlier, after hitting an intra-day low of $1.78.

The post The Archer Materials (ASX:AXE) share price is down 5% on Tuesday appeared first on The Motley Fool Australia.

Should you invest $1,000 in Archer Materials right now?

Before you consider Archer Materials, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Archer Materials wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Archer Materials (ASX:AXE) share price soars 29% on US patent
The Archer Materials (ASX:AXE) share price is flying 7% higher today

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!