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Trump Praises Micron Twice Today, Yet Storage Stocks Continue to Decline

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On July 2, according to BIT (bit.com) market data, the Nasdaq turned down 0.3% during U.S. trading, with the storage sector experiencing a deep correction. Trump's two praises for Micron today did not help the stock performance, as MU fell below the $1000 mark, and SanDisk dropped over 10%. Micron Technology (MU) fell 4.2%; Seagate Technology (STX) fell 6.2%; Western Digital (WDC) fell 6.2%; SanDisk (SNDK) fell 10.1%; the new memory ETF KMEM fell 8.1%; Roundhill Memory ETF (DRAM) fell 6.45%. Trump stated at noon today: 'Micron, this truly great American company, is also one of the hottest companies in the world, announcing a historically significant $250 million investment in the Trump account. This incredible initiative, driven by Micron's outstanding CEO, will bring immense happiness to many children in the near future. This is the largest corporate investment of its kind, set to open the gateway to the American Dream for these outstanding children on the 250th anniversary of the founding of the United States.' Trump remarked this evening: 'Micron is a great American company; they announced a $250 million investment in the Trump account to benefit the future of children.' Today, Micron's stock price rose by $9. Thank you, Micron!
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