Stock Track | Tradr 2X Long SNDK Daily ETF Soars 8.56% in Pre-Market on Analyst Upgrades and AI-Driven NAND Demand

Stock Track05-26 21:51

Tradr 2X Long SNDK Daily ETF (SNXX) surged 8.56% in pre-market trading on Tuesday, extending a rally in storage-related assets.

The leveraged ETF tracking SanDisk benefited from a wave of bullish Wall Street catalysts, including Citi raising its SanDisk target price from $1,300 to $2,025 while maintaining a Buy rating. The upgrade cited a structural NAND shortage potentially lasting through 2030, supported by Kioxia's strong quarterly results showing revenue up 85% sequentially with operating margins approaching 74%.

Citi forecasts NAND average selling prices rising 186% year-over-year in 2026, with enterprise SSD prices surging approximately 265%, driven by generative AI training and inference workloads. Additionally, another analyst recently raised SanDisk to Buy with a $3,000 target. SanDisk itself reported strong Q3 results with revenue up 252% year-over-year and a 69% operating margin, alongside announcing a $6 billion buyback program.

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