🔴 Western Digital is trading 8.5% down today as memory-chip and high-beta tech rally reverses

Western Digital is trading 8.5% down at $483.30 as the recent rally in memory-chip and high-beta tech stocks undergoes a sharp reversal.

• Traders are taking profits and rotating out of the group following a steep run-up last week fueled by CXMT’s blockbuster IPO.
• Previous enthusiasm surrounding AI-driven storage demand and sector-wide momentum in DRAM names has faded as investors pull back from high-beta tech names.