Stock Track | Tradr 2X Long SNDK Daily ETF Soars 9.91% on Bullish SanDisk Outlook and Morgan Stanley Target Hike

Stock Track

04/29

The Tradr 2X Long SNDK Daily ETF (SNXX) recorded a 24-hour surge of 9.91%, with a significant portion of the gains occurring during the after-hours session on Tuesday.

The leveraged ETF's sharp rise is attributed to renewed investor optimism surrounding its underlying stock, SanDisk, ahead of the company's upcoming fiscal third-quarter earnings report. Morgan Stanley significantly raised its price target on SanDisk to $1,100 from $690 while maintaining an Overweight rating, which is well above the analyst consensus. Market expectations for the quarter are robust, with analysts citing a NAND super cycle fueled by surging AI-driven storage demand as a key catalyst, as generative AI inference workloads are projected to drive annual storage demand growth exceeding 60%.

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