Movement Alert｜Tradr 2X Long SNDK Daily ETF Rises 8.56% in Pre-Market Trading, Storage Sector Rebounds After Two-Day Selloff

Market Focus06-08

On June 8, Tradr 2X Long SNDK Daily ETF rose 8.56% in pre-market trading, trading at $24.6879/share, with trading volume of $28.67 million. As a 2x leveraged long ETF tracking SanDisk, its gain reflects a notable rebound in the underlying stock.

On the news front, the U.S. storage chip sector staged a collective pre-market rebound, with Micron Technology up nearly 5%, Western Digital and Seagate up over 2%, and SanDisk gaining approximately 1.6%. Additionally, Cantor Fitzgerald raised its price target on SanDisk from $1,800 to $2,900 while maintaining an Overweight rating, signaling strong institutional confidence.

The rebound follows a sharp two-day correction on June 4-5, during which SanDisk plunged over 7% and the broader storage sector sold off heavily after Broadcom failed to raise its AI chip sales guidance, triggering profit-taking across semiconductor stocks. The leveraged ETF amplified SanDisk's recovery, producing the outsized pre-market gain.

(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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