On July 1, Tradr 2X Long SNDK Daily ETF declined 15.01% in regular trading, trading at $35.39/share, with turnover of $359 million.

On the news front, the underlying stock SanDisk experienced significant profit-taking after Bernstein raised its target price from $1,700 to $3,000, citing long-term agreements worth approximately $69.3 billion that reshape the storage cycle. SanDisk initially surged over 5% on the upgrade but subsequently reversed course, falling over 8% intraday as selling pressure intensified. The broader storage sector also declined, with Micron Technology down over 6%, Western Digital down over 5%, and Seagate down over 6%.

SanDisk had previously accumulated gains exceeding 850% in the first half of the year and suffered an 18%-plus decline from June 26 to 29 before staging a recovery bounce. Its RSI indicator remained in extreme overbought territory, intensifying short-term bull-bear dynamics. As a 2x daily leveraged long product tracking SanDisk, the ETF's decline was mechanically amplified relative to the underlying stock's pullback.

(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.)