Single Letter Ticker 'P'... AI Storage Stock Plummets 9% in One Day

Shares of EVERPURE INC (ticker: P) plunged 9.34% intraday on the 27th, falling to $80.10 and dragging its market capitalization down to roughly $26.6 billion (around KRW 37 trillion). The value wiped out in a single day is estimated at about $2.3 billion (approximately KRW 3 trillion).

The company completed its rebranding on April 17 by changing its New York Stock Exchange ticker symbol from PSTG to the single letter “P.” Despite announcing price increases in response to the global semiconductor shortage, it has pledged not to profiteer from the crisis.

Headquartered in San Jose, California, EVERPURE INC (P) is a flash storage and data management company. Formerly known as Pure Storage, it has repositioned itself as a data infrastructure provider for the AI era.