Movement Alert|Tradr 2X Long SNDK Daily ETF Rises 8.67% in Regular Trading, Storage Sector Rally and Kioxia-SanDisk $31B Expansion Plan Fuel Gains

Market Focus09-04 21:37

On September 4, Tradr 2X Long SNDK Daily ETF rose 8.67% in regular trading, trading at $15.59/share, with Turnover of $300 million. The leveraged ETF tracks SanDisk stock at twice daily exposure, amplifying the underlying's intraday gain of over 3%.

On the news front, Kioxia and SanDisk jointly announced a $31 billion investment over the next six years to expand NAND flash memory production capacity in Japan. The new facilities will produce the most advanced BiCS FLASH 3D memory targeting inference AI and edge AI applications, reinforcing the long-term bullish outlook for the storage industry. The announcement came amid a broader rally in the storage chip sector, with multiple names posting solid gains.

Earlier, additional tailwinds had supported the ETF, including Arete Research raising its SanDisk target price from $2,300 to $3,000 and quantitative firm Jane Street increasing its stake by approximately 540% to become the second-largest shareholder. These catalysts collectively bolstered sentiment across the storage sector, with the two-times leverage structure significantly amplifying the upside move.

(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.

Comments

We need your insight to fill this gap
Leave a comment