Seagate Technology Holdings PLC experienced a second consecutive day of losses on Friday, December 15, 2023, when its stock underperformed compared to its competitors.
- Shares of Seagate Technology Holdings shed 1.23% dipping to $84.28 while the Dow Jones Industrial Average rose 0.15% to 37,305.16 and the S&P 500 Index fell 0.01% to 4,719.19.
- Seagate’s stock closed $3.65 below its 52-week high of $87.93, achieved on December 14th.
- Amongst its competitors, NetApp Inc. fell 0.33% to $88.92, Western Digital Corp. fell 0.92% to $50.68, and Pure Storage Inc. Cl A rose 0.91% to $36.59.
- Trading volume for Seagate was notable, with 5.1 M shares changing hands, exceeding its 50-day average volume of 2.5 M.
Seagate’s underperformance is noteworthy in an overall mixed trading session for the stock market. The volatility in the market underscores the fluctuating nature of the industry and the specific challenges the company faces. This downward performance of Seagate also suggests an increased scrutiny of tech stocks, where performance often varies widely across different companies and sectors.
This information comes from an auto-generated report by Automated Insights, using data from Dow Jones and FactSet. As the tech sector continues to evolve and innovate, monitoring stocks’ performance can provide crucial insights into trends and patterns that could shape future decision-making for businesses and investors alike.