On July 29, Tradr 2X Long SNDK Daily ETF declined 9.7% in regular trading, trading at $7.2786/share, with turnover of $399 million.
The ETF is a 2x leveraged long product on SanDisk. SanDisk has been under sustained pressure over multiple consecutive sessions, directly driving amplified losses through the leverage mechanism. On the news front, SanDisk previously plunged over 9% in a single session on July 24, with the Philadelphia Semiconductor Index falling 4% on the same day and the broader storage sector facing significant headwinds. Multiple rebound attempts by SanDisk have since failed, with concentrated profit-taking pressure being released. This leveraged ETF has been declining sharply since July 27. Susquehanna previously lowered its target price on SanDisk from $3,250 to $3,050, keeping short-term sentiment under pressure while leverage amplifies volatility further.
(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.)