TradingKey – Kioxia breaches defense line amid surge in selling pressure; stock plummets over 15% in a single day to hit new low since May this year.

On November 2, Japanese memory chip giant Kioxia (285A.JP) saw its stock plummet over 14% in a single day, drawing a long bearish candlestick with heavy volume on the daily chart. The stock fell to a low of 11,210 yen ($70.99), completely engulfing all of last week’s gains and hitting a new six-month low since May 2026.

The main reasons for Kioxia’s stock plunge were a disappointing financial outlook and concerns over the peaking of the memory chip cycle. Although Kioxia’s latest quarterly revenue and profit remained high, management’s earnings guidance for the next stage fell short of Wall…