After a steep month-long slide, Broadcom (NASDAQ: AVGO) just turned its fortunes around in a huge way.
Shares of the chip giant reached an all-time high closing price of nearly $369 on Sept. 9. This came as markets reacted to CEO Hock Tan’s AI-incentivized pay package. But the gains were short-lived, with the stock dropping around 12% by market close on Oct. 10. MarketBeat noted at the time that the 10% single-day gain Tan’s package resulted in felt unwarranted. Thus, it wasn’t overly surprising to see shares correct.
