Astera Labs shares fell 12.33 percent to $362.05 on Tuesday, extending losses for a second day as re-escalating US-Iran tensions and profit-taking weighed on investor sentiment. President Donald Trump announced over the weekend a reinstated blockade on Iran in the Strait of Hormuz, which dampened markets despite his clarification that other countries' cargoes would pass freely. The Nasdaq dropped 1.55 percent, the S&P 500 lost 0.79 percent, and the Dow Jones shed 0.26 percent. The decline also followed a late-month surge after Astera Labs was added to the Nasdaq-100 index effective June 22. The company expects second-quarter revenue between $355 million and $365 million, implying 15 to 18 percent growth from $308.4 million a year earlier, and will report results after market close on August 4, 2026.
Astera Labs, Inc.Re-escalating US-Iran tensions and blockade in Strait of Hormuz dampened market sentiment, contributing to the stock decline.
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