Western Digital’s Nasdaq-100 Debut Sees 2.39% Drop Amid Index Rebalancing
Western Digital Corporation (WDC) opened its Nasdaq-100 membership with a 2.39% decline to $176.76, underperforming the broader tech sector. The storage solutions provider held steady in after-hours trading at $176.58 as market participants evaluated the implications of index inclusion during December's volatile quadruple witching period.
Index-tracked funds managing over $600 billion in global assets now face mandatory position adjustments. While the listing theoretically guarantees long-term institutional demand, Monday's price action reflected classic 'sell the news' behavior following WDC's 52-week high approach at $188.77.
Analysts remain divided on near-term prospects, with price targets suggesting 20% upside or 15% downside from current levels. The stock's performance will test whether passive flows can overcome macroeconomic concerns and thin holiday liquidity.
