Western Digital's revenue growth and cloud demand are overshadowed by concentration risk and unsustainable capex cycles. Learn why WDC stock is downgraded to sell.
Sandisk Corporation has announced plans for a secondary public offering. The data storage company will open up 5,821,135 common stock shares (Nasdaq:SNDK) at $545 a pop. The shares are currently owned by Western Digital Corporation (WDC), Sandisk's ...
Sandisk SNDK stock: fell 5.74% after Western Digital filed to sell 5.8M shares at a 7.7% discount, raising $3.17B to reduce debt through JPMorgan and BofA.
Seller will be Western Digital, not Sandisk, and the chipmaker receives no proceeds as 5,821,135 shares change hands at $545; expected to close Feb. 19.