Stock Track | MONTAGE TECH Plummets 6.83% Intraday as Storage Sector Hit by Profit-Taking After CXMT Listing

Stock Track

07/28

Shares of MONTAGE TECH tumbled 6.83% intraday, caught in a wave of selling pressure that swept across storage concept stocks.

The decline was triggered by the landmark listing of ChangXin Memory Technologies (CXMT) on the STAR Market. CXMT's debut saw record-breaking first-day turnover, which investors interpreted as a classic sell-the-news moment for the storage sector. Profit-taking sentiment quickly spread, dragging down related names including MONTAGE TECH.

Other storage-focused stocks also suffered notable losses, with GIGADEVICE falling over 8% and ILUVATAR COREX dropping more than 4%, underscoring the broad-based selling within the sector.

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