On June 15, Tradr 2X Long SNDK Daily ETF (SNXX) rose 12.21% in regular trading, trading at $38.635/share, with turnover of $318 million. As a 2X leveraged ETF tracking Sandisk (SNDK), the fund's surge reflects continued bullish momentum in the underlying stock driven by a wave of Wall Street upgrades.
On the news front, multiple investment banks have recently raised their price targets on Sandisk significantly. Cantor Fitzgerald raised its target from $1,800 to $2,900 while maintaining an Overweight rating. Bank of America lifted its target from $1,550 to $2,100, reiterating a Buy rating, citing strong NAND demand, favorable pricing trends, and new multi-year supply agreements that Sandisk calls its New Business Model. Mizuho also raised its target from $1,825 to $2,200, maintaining an Outperform rating.
Industry catalysts further bolstered sentiment, including SK Hynix's capacity plans signaling sustained supply tightness in NAND, while a decline in U.S. Treasury yields supported risk appetite for growth-oriented names. The confluence of institutional upgrades and structural NAND tailwinds continues to drive outsized gains in leveraged exposure to Sandisk.
(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.)
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