On May 28, Tradr 2X Long SNDK Daily ETF (SNXX) declined 8.67% overnight, trading at $179.80 USD/share, with trading volume of approximately $26.85 million.

The leveraged ETF tracking SanDisk pulled back sharply after a strong rally earlier in the week. Market observers have warned investors about the boom-bust cyclical nature of memory chips, noting that an AI efficiency tool called TurboQuant triggered notable declines in major storage suppliers. Deutsche Bank advised investors to prepare for continued AI-related disruption to the sector.

Additionally, SanDisk itself flagged that the NAND-to-HDD cost gap has widened to approximately 20-25x per GB, far exceeding the 2-3x threshold at which cloud providers typically consider switching, potentially undermining the SSD replacement thesis in AI data centers. While Barclays upgraded SanDisk to overweight with a $2,300 price target on May 27, the 2X leveraged structure amplified the subsequent reversal as profit-taking pressures mounted following the stock's rapid recent gains.

(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.)