On June 1, Tradr 2X Long SNDK Daily ETF (SNXX) rose 8.09% in pre-market trading, trading at $237.79 USD/share, with trading volume of approximately $23.7 million. The leveraged ETF tracking SanDisk continued its rally as multiple Wall Street banks issued aggressive target price upgrades.

On the news front, Barclays upgraded SanDisk from equal-weight to overweight, raising its target from $1,200 to $2,300. Mizuho lifted its target from $1,625 to $1,825, maintaining an outperform rating. Susquehanna raised its target from $2,000 to $3,250, maintaining a positive rating. The consensus mean target now stands at approximately $1,692.

The broader memory sector surge is underpinned by an AI data center buildout driving unprecedented demand for memory components, leading to supply shortages and price hikes. SanDisk shares have gained over 523% year to date, making it one of the largest beneficiaries of the current industry upcycle. Nvidia's recent earnings beat further confirmed strong AI chip demand, reinforcing bullish sentiment across the storage sector.

(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.)