Stock Track | Tradr 2X Long SNDK Daily ETF Soars 30.14% Intraday on Micron Blowout Earnings and Memory Chip Sector Optimism

Stock Track
06/25

Tradr 2X Long SNDK Daily ETF (SNXX) surged 30.14% during intraday trading on Thursday, amplifying a significant rally in the storage and memory chip sector.

The primary catalyst was Micron Technology's third fiscal quarter results, which massively exceeded expectations. Micron's earnings per share surged over twelve times year-over-year, revenue came in 16% above consensus estimates, and gross margin hit a record 84.9%. Data center revenue soared 6.5 times, underscoring robust AI-driven demand. The company also projected that memory chip supply tightness would persist through 2028, supporting elevated industry conditions.

Further optimism was fueled by SK Hynix's official submission of its U.S. IPO application, with plans to list on NASDAQ. Analysts from HSBC Research and Nomura expressed positive outlooks, citing strong performance expectations driven by DRAM and NAND price increases. As a 2x daily leveraged product tracking SanDisk, which itself gained on the sector-wide news, SNXX significantly amplified the underlying stock's upward movement.

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