Why Western Digital Stock Is Rising Today

Western Digital Corp WDC shares are trading higher Thursday following reports suggesting the company and Kioxia have revived merger talks.

What To Know: According to a Bloomberg report, Western Digital restarted talks with Kioxia about combining into one publicly traded company. 

The discussions began near the end of last year and are ongoing. According to people familiar with the matter, discussions are still in early stages and could end before reaching an agreement. The two companies currently have a joint venture together.

Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. Kioxia is an American-Japanese manufacturer of NAND flash memory.

See Also: Nasdaq, S&P 500 Futures Edgy Ahead Of Data-Heavy Session

WDC Price Action: Western Digital has a 52-week high of $68.48 and a 52-week low of $29.73.

The stock was up 4.75% at $34.61 at time of publication, according to Benzinga Pro.

Photo: courtesy of Western Digital.