Movement Alert｜Tradr 2X Long SNDK Daily ETF Rises 8.08% in Pre-Market Trading, Citi Massive Target Hike on SanDisk Fuels Storage Rally

Market Focus05-20

On May 20, Tradr 2X Long SNDK Daily ETF (SNXX) rose 8.08% in pre-market trading, trading at $162.62 USD/share, with trading volume of approximately $40.96 million. The leveraged ETF extended its rebound following Citi's aggressive target price upgrade on SanDisk.

On the news front, Citi analyst Asiya Merchant raised her price target on SanDisk from $1,300 to $2,025, implying approximately 50% additional upside from the prior close of $1,407. The upgrade was driven by the firm's conviction that the AI agent wave is triggering an unprecedented NAND storage super cycle. Citi forecasts NAND average selling prices to surge 186% in 2026, with eSSD prices expected to climb approximately 265%. The analyst reiterated a Buy rating, citing long-term agreements providing 80%+ baseline gross margin visibility and a $6 billion share repurchase authorization that could further boost EPS.

Additionally, overseas memory manufacturers SanDisk and Kioxia both reported strong fiscal Q3 results, with SanDisk's data center revenue surging 233% sequentially. Institutions project supply-demand imbalances to persist through 2027, with NAND supply gaps estimated at around 5%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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