On October 13, Tradr 2X Long SNDK Daily ETF fell 8.47% Overnight, trading at $11.04 with turnover of $32.7351 million. The decline was driven by a pullback in underlying SanDisk shares and a target price cut from Evercore ISI.

Evercore ISI lowered its SanDisk target price from $3,100 to $2,800. Although the new target remains well above the current price, the downward revision was interpreted by the market as a signal of valuation pressure on high-flying memory stocks, pressuring the underlying shares and amplifying losses in the leveraged ETF.

(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.)