Taiwan Semiconductor Manufacturing (TSM) Is Today's Dead Cat Bounce Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Taiwan Semiconductor Manufacturing ( TSM) as a "dead cat bounce" (down big yesterday but up big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Taiwan Semiconductor Manufacturing as such a stock due to the following factors:

  • TSM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $272.0 million.
  • TSM has traded 546,524 shares today.
  • TSM is up 3.3% today.
  • TSM was down 5.3% yesterday.

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More details on TSM:

Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices. The stock currently has a dividend yield of 4.1%. TSM has a PE ratio of 2. Currently there is 1 analyst that rates Taiwan Semiconductor Manufacturing a buy, 2 analysts rate it a sell, and 1 rates it a hold.

The average volume for Taiwan Semiconductor Manufacturing has been 12.6 million shares per day over the past 30 days. Taiwan Semiconductor has a market cap of $124.9 billion and is part of the technology sector and electronics industry. Shares are up 5.6% year-to-date as of the close of trading on Friday.

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