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WDC - Western Digital soars as activist Elliott calls for separation of flash business
Western Digital Corporation
Western Digital jumped almost 10% in premarket trading after activist Elliott Management disclosed a $1 billion stake and called for the company to separate its hard disk drives and NAND flash memory businesses. By separating the businesses, Elliott believes Western Digital (NASDAQ:WDC) could reach $100+ by the end of 2023, representing 100% upside, according to a statement. Developing story ...