Premarket Movers | Storage Stocks Jump With SanDisk Up 7%; Chip Stocks Gain With SOXL up Nearly 8%; Drone Makers Rally With Ondas up 14%

Storage shares jumped in premarket trading. Micron, Seagate up over 4%; SanDisk, Western Digital up over 3%.

On November 10, Goldman Sachs highlighted in its latest research report that SanDisk's Q3 earnings significantly exceeded expectations, serving as a catalyst for renewed market confidence. The bank noted that this strong performance reflects a fundamental reversal in the NAND flash market, which is entering a prolonged and severe supply shortage phase expected to last through 2026.

Chip stocks rebounded in premarket trading. SOXL up nearly 8%; Navitas up over 6%; Credo up 5%; SMCI, ARM Holdings, Marvell up over 3%.

Drone makers rallied in premarket trading. Ondas up 14%; Unusual Machines up over 7%; Red Cat up 5%; Draganfly, AeroViroment up about 4%.