The Roundhill Memory ETF (DRAM) recorded a 24-hour plunge of 5.02% during post-market trading on Wednesday, as the memory sector faced pressure following SanDisk's fiscal fourth-quarter earnings release and broader weakness in technology stocks.

SanDisk reported strong quarterly results with revenue surging 372% year-over-year to $8.965 billion, surpassing market expectations. Despite the beat, the stock initially dropped over 8% in post-market trading before paring some losses, indicating a mixed investor reaction that weighed on the memory-focused ETF. The report highlighted robust datacenter demand but also raised questions about the sustainability of the current growth trajectory.

Adding to the sector's headwinds, industry reports noted that DRAM spot price momentum has weakened since late July, even as the overall memory chip supply shortage is expected to persist until 2027. The broader market also saw significant selling in large-cap tech, with the Nasdaq Composite falling 0.83% during the session, further contributing to the negative sentiment around memory-related investments.