Why Western Digital Rose 14.4% in May

Shares of Western Digital (NASDAQ: WDC) rose 14.4% in May, according to data from S&P Global Market Intelligence.

Western Digital had already reported earnings heading into the month, but its May surge came after a prominent activist investor disclosed a $1 billion stake in the beaten-down hard disk drive and NAND flash producer.

Western Digital's undemanding valuation and the involvement of a prominent activist caused the stock to surge, as investors made the idiosyncratic bet the activist's proposed plan could unlock value.

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Source Fool.com