Stock Track | SanDisk Plunges 5.08% in Night Session as Profit-Taking Hits After Massive Year-to-Date Rally
Stock Track
May 15
SanDisk Corp. (SNDK) experienced a 24-hour plunge of 5.08% during night session trading on Thursday.
The decline comes as investors engage in profit-taking following the stock's extraordinary year-to-date surge of over 500%, driven by surging NAND flash memory prices and AI-fueled storage demand. The rapid ascent has raised concerns about stretched valuations, with recently disclosed insider transactions adding to cautious sentiment.
Broader U.S. chip stocks also saw notable declines as market overheating fears intensified amid ongoing economic uncertainty tied to geopolitical tensions, contributing to the downward pressure on SanDisk shares.
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