GlobalFoundries shares dip as Delta Global builds stake and director Glenda Dorchak sells stock

Hedge fund Delta Global Management has increased its holding in GlobalFoundries by 391,855 shares, a move that coincided with the chipmaker's stock falling 6.67% to €46.70 in German trading and slipping below its 50‑day moving average. Analysts note the key technical support level on the Nasdaq is $50.85, and a breach could push the price toward $48.

Separately, director Glenda Dorchak sold 4,000 GlobalFoundries shares on July 20 at an average price of $58.22, reducing her stake by about 21% to 14,867 shares valued at roughly $865,560. The sale was made under a Rule 10b5‑1 plan. Following the transaction, GlobalFoundries stock traded down $3.33 to $49.85, with a volume of 1.32 million shares, well below its average daily volume.