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Storage chip sector opens lower, Purang Co. drops over 8%
The storage chip sector opened lower, with PuRan Co. dropping over 8%, and Zhaoyi Innovation, Jiangbolong, and Baiwei Storage falling more than 4%. Shannon Chip Innovation and Canxin Co. also declined. On the news front, well-known short-selling firm Citron Research announced it is shorting SanDisk, claiming that the current boom in the storage chip market is a “supply illusion.”