Western Digital Drops 7% in Premarket as DRAM ETF Plunges 13%
WDC•WDC•WDC•WDC•Western Digital shares fell more than 7% in Tuesday’s premarket after closing at record highs Monday, as U.S. memory chip stocks tumbled alongside a 13% plunge in the DRAM ETF and a 10% drop in South Korea’s Kospi. WDC retail sentiment on Stocktwits eased to bullish from extremely bullish.
Western Digital shares declined over 7% in Tuesday’s premarket after Monday’s record-high close. Peer memory chip stocks also slumped, with SanDisk down 9.3%, Micron off 8.4% and the DRAM ETF plunging 13%, reflecting a broad profit-taking move after recent rallies.
The selloff extended overnight into Asia, driving South Korea’s Kospi down 10% and pushing SK Hynix and Samsung Electronics shares lower by more than 12%. Trading was halted for 20 minutes to prevent further runaway selling.
Retail investor optimism for Western Digital cooled on Stocktwits, shifting from extremely bullish to bullish. Sentiment for the DRAM ETF moved from neutral to bullish, while views on other memory names showed mixed positions.
