Why Seagate Technology Jumped Today
Shares of Seagate Technology PLC (NASDAQ: STX) jumped today after tech stocks rallied in the broader market and after an analyst's investor note suggested a new cryptocurrency could boost demand for hard disks.
The tech stock gained 12.1% in today's trading.
Many technology stocks were rebounding today after taking a hit for most of this year. Investors appear interested in tech stocks again after several months of a sell-off. Investor sentiment may be shifting back to technology stocks as investors try to figure out how to invest in a U.S. economy that's opening back up but still facing high unemployment and inflation.
Source Fool.com
