On May 20, Tradr 2X Long SNDK Daily ETF (SNXX) rose 8.08% in pre-market trading, trading at $162.62 USD/share, with trading volume of approximately $40.96 million. The leveraged ETF extended its rebound following Citi's aggressive target price upgrade on SanDisk.

On the news front, Citi analyst Asiya Merchant raised her price target on SanDisk from $1,300 to $2,025, implying approximately 50% additional upside from the prior close of $1,407. The upgrade was driven by the firm's conviction that the AI agent wave is triggering an unprecedented NAND storage super cycle. Citi forecasts NAND average selling prices to surge 186% in 2026, with eSSD prices expected to climb approximately 265%. The analyst reiterated a Buy rating, citing long-term agreements providing 80%+ baseline gross margin visibility and a $6 billion share repurchase authorization that could further boost EPS.

Additionally, overseas memory manufacturers SanDisk and Kioxia both reported strong fiscal Q3 results, with SanDisk's data center revenue surging 233% sequentially. Institutions project supply-demand imbalances to persist through 2027, with NAND supply gaps estimated at around 5%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)