Seagate Triples YTD, Edges Up Premarket as DRAM ETF Slips 1.5%
Seagate shares, which have tripled year-to-date, rose marginally in Friday's premarket as the DRAM ETF fell 1.5% and Samsung shares slid 2.3% after a tentative labor agreement averted a strike. Retail sentiment on Stocktwits turned bearish for Seagate, Micron, SanDisk and Western Digital.
1. Premarket Stock Movement
Seagate shares were marginally higher in Friday's premarket session while the Roundhill Memory ETF (DRAM) fell 1.5% and Samsung shares dropped 2.3% in Seoul. The modest gain offset a pullback from Thursday's rally that had followed news of an averted strike at Samsung's chip operations.
2. Samsung Labor Agreement Details
Samsung reached a tentative agreement granting workers a cash bonus equal to 50% of their annual salary and allocating 10.5% of operating profit to stock-based special bonuses, with 40% directed across its chip business and the remainder to the memory unit. This deal, pending union ratification, ended a strike threat that risked disrupting global chip supply chains.
3. Retail Sentiment and Year-to-Date Performance
Retail investors on Stocktwits adopted a bearish outlook for Seagate alongside peers Micron, SanDisk and Western Digital. Seagate shares have tripled year-to-date, outpacing Western Digital's 183% gain and Micron's 167% advance over the same period.