20 Billion Won Vanished in a Day… Sharp Decline of U.S. Data Storage Leader

Data storage company Everpure Inc. (NYSE: P) saw its shares plunge 6.04% on the New York Stock Exchange on the 23rd (local time), closing at $72.39. Trading volume reached about 1.35 million shares, and the company’s market capitalization fell by roughly $1.3 billion to around $24 billion (approximately ₩34 trillion) in a single day.

At its recent annual “Pure Accelerate 2026” event, Everpure unveiled a data intelligence platform that integrates enterprise data management and visibility, formalizing its strategic shift from a storage-centric focus to comprehensive data management.

Amid soaring component costs driven by the global semiconductor shortage, CEO Charlie Giancarlo notified customers of impending price increases in a letter, while emphasizing, “We will not profiteer from this crisis.”

Headquartered in Santa Clara, California, Everpure is an enterprise storage and data management firm that was known as Pure Storage until February of this year. Rebranding to position itself as an AI-era data platform provider, the company also changed its NYSE ticker symbol from PSTG to P in April.

Leveraging its FlashArray storage systems and Purity software, Everpure delivers data storage, reduction, protection, and encryption services to enterprises and cloud customers worldwide. Its current CEO, Charlie Giancarlo, hails from the networking-equipment industry.