Micron drops 3.8% to $989.04 after Chinese rival's DRAM claim

Micron Technology closed down 3.8% at $989.04 for a third straight loss after ChangXin Memory Technologies (CXMT) reported "key progress" on a next-generation DRAM memory chip, per MarketWatch and Investor's Business Daily. The pullback follows a 261% gain for the year. I see little cushion when holders sit on gains that large.