: GSI Technology stock rises 3% premarket

Shares of GSI Technology Inc. GSIT rose 3% premarket after ending Monday’s session down 5%, where they outpaced the S&P 500 index’s SPX decline of 0.5%. The loss-making semiconductor company has been attracting meme-like attention recently and its stock has risen 325.9% in the last three months. Last month GSI Technology reported a fourth-quarter net loss of $4 million, compared with a net loss of $3 million in the same period last year. The semiconductor company has reported a net loss for more than a dozen straight quarters. Founded in 1995, GSI Technology designs and develops memory products for the telecommunications and networking industries. The Sunnyvale, California-based company describes itself as a leading provider of Static Random Access Memory (SRAM) semiconductor products.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.