Stock Track | Tradr 2X Long SNDK Daily ETF Soars 8.24% in Pre-Market on Citi's Massive SanDisk Target Hike and AI-Driven NAND Super Cycle

Stock Track05-20

Tradr 2X Long SNDK Daily ETF (SNXX) soared 8.24% in pre-market trading on Wednesday, extending a recent rebound.

The leveraged ETF's sharp gain was primarily fueled by Citi's aggressive price target upgrade on its underlying holding, SanDisk. Analyst Asiya Merchant raised the target from $1,300 to $2,025, citing the firm's conviction that the AI agent wave is triggering an unprecedented super cycle for NAND flash memory storage. Citi forecasts NAND average selling prices to surge 186% in 2026.

Further supporting the bullish sentiment were strong fiscal third-quarter results from memory manufacturers SanDisk and Kioxia, with SanDisk's data center revenue surging 233% sequentially. Broader industry projections indicate supply-demand imbalances in the NAND market are expected to persist through 2027, underpinning the positive outlook for the sector.

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