HK Stock Market Move | Storage concept stocks under pressure fell Montage Technology (06809) dropped more than 4% GigaDevice Semiconductor Inc. (03986) dropped more than 3%

Concept stocks related to storage fell this morning. As of the time of publication, Montage Technology (06809) fell by 4.21% to HK $198.1, while GigaDevice Semiconductor Inc. (03986) fell by 3.7% to HK $416.2. On the news front, on Tuesday, the 24th of the US Eastern Time, Citron posted on social media that there is a fundamental error in the pricing logic of the market for SanDisk. The current tight supply of storage chips is nothing more than a "mirage," and the peak of the cycle is approaching. After the post was made, SanDisk's stock price plummeted in early trading on Tuesday, with the decline reaching up to 5.7%. Citron's intervention has raised doubts in the market about the sustainability of this strong target and once again sparked concerns among investors about the business cycle of the storage chip industry.