Western Digital's stock plummeted 5.16% in pre-market trading on Wednesday, as the storage technology company faced negative sentiment from insider selling and broader sector weakness.
The pre-market decline followed news that Western Digital's Chief Legal Officer and Corporate Secretary Cynthia L. Tregillis disposed of 2,117 common shares worth approximately $1.07 million. According to regulatory filings, Tregillis reported a net sale of 808 shares on July 21 at $529.63 per share, reducing her holdings to 114,539 shares. She also withheld 1,309 shares at $487.42 on July 20 to cover taxes related to vesting.
Western Digital's decline was part of a broader pullback in chip and storage shares during pre-market trading. Multiple storage and semiconductor companies experienced significant declines, with the sector showing weakness ahead of the regular trading session.
Comments