On June 5, Tradr 2X Long SNDK Daily ETF declined 9.87% in regular trading, trading at $25.61/share, with trading volume of $148 million.

The fund is a 2x leveraged long daily ETF tracking SanDisk (SNDK). The sharp decline reflects an approximately 5% pullback in SanDisk shares after the stock first closed above $1,800 on June 3, setting a new all-time high. The two-times leverage magnified the underlying stock's retreat to nearly a 10% loss for the ETF.

On the news front, SanDisk had been rallying on the back of the ongoing storage super cycle, driven by surging AI storage demand and rising DRAM and NAND contract prices. However, following the record close, profit-taking pressure intensified. A broader risk-off tone in the market — with the Dow dropping over 600 points on June 3 amid inflation concerns from rising oil prices and Treasury yields — further weighed on sentiment. Notably, multiple analysts recently raised price targets on SanDisk, with Morgan Stanley lifting its target to $1,750 and Susquehanna raising to $3,250, both maintaining bullish ratings.

(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.)