Intel stock drops 10% as CEO departure raises concerns about future strategies

Intel's stock has fallen an additional 10%, bringing its total decline for the year to 56%. This drop follows CEO Pat Gelsinger's planned departure, which has raised concerns about the company's future strategies. Market skepticism is growing regarding Intel's ability to execute its turnaround plan, particularly in advanced technology development. The uncertainty surrounding leadership changes is contributing to this negative sentiment. No analysts have disclosed any current positions in Intel or plans to invest in the near future. The situation reflects ongoing challenges for the company amid a difficult market environment.