US Stock Market Moves | Dell Technologies (DELL.US) plunges over 10% after Barclays downgrades rating

According to Zhihui Caijing APP, on Wednesday, Dell Technologies (DELL.US) plunged more than 10% intraday. Year-to-date, the stock has surged up to 360%. It is currently trading at $512.27. The market is still digesting the impact of major shareholder Silver Lake submitting Form 144, proposing to reduce its holdings by 48,655 shares and cash out approximately $27.95 million. Previously, its affiliates had also reduced their holdings consecutively, continuously sending profit-taking signals to the market. Barclays analyst Tim Long downgraded Dell Technologies to a Hold rating and lowered the target price from $603 to $574.