Stock Track | Tradr 2X Long SNDK Daily ETF Soars 5.05% Over 24 Hours on Analyst Upgrades and AI-Driven NAND Demand

Stock Track08:11

Tradr 2X Long SNDK Daily ETF (SNXX) surged 5.05% over the past 24 hours, extending a significant rally in storage-related leveraged assets.

The movement was driven by a wave of bullish analyst actions and strong industry data. Citi significantly raised its price target for SanDisk—the underlying stock tracked by the ETF—from $1,300 to $2,025, maintaining a Buy rating and citing a structural NAND flash memory shortage potentially lasting through 2030. This view was supported by Kioxia's robust quarterly results, which showed an 85% sequential revenue increase and operating margins nearing 74%. Furthermore, another analyst recently upgraded SanDisk to Buy with a $3,000 target price.

Citi forecasts NAND average selling prices to rise 186% year-over-year in 2026, with enterprise SSD prices surging approximately 265%, primarily driven by explosive demand from generative AI training and inference workloads. SanDisk's own strong quarterly results, featuring a 252% year-over-year revenue jump and a 69% operating margin, alongside a newly announced $6 billion share buyback program, added fundamental strength to the bullish narrative, fueling the ETF's gains.

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