Movement Alert｜Tradr 2X Long SNDK Daily ETF Intraday Rise 9.13%, Storage Rally Extends on Citi Target Upgrade and AI-Driven NAND Supercycle

Market Focus05-26 21:59

On May 26, Tradr 2X Long SNDK Daily ETF (SNXX) rose 9.13% in regular trading, trading at $193.13 USD/share, with trading volume of approximately $494 million.

The leveraged ETF tracking SanDisk continued its upward momentum as Citi significantly raised its price target on SanDisk by over 50% to $2,025, reinforcing bullish conviction that the unprecedented NAND storage supercycle is far from over. Citi analyst Asiya Merchant cited the rapidly expanding AI agent wave and strong earnings data from Kioxia as key catalysts, projecting NAND average selling prices to surge 186% in the current year, with eSSD prices expected to rise approximately 265%.

SanDisk shares had already gained over 460% year-to-date as of the prior week, driven by AI training and inference workloads transforming memory and storage from peripheral components into critical system bottlenecks. According to Counterpoint Research, the storage market has entered a supercycle phase with supply-demand dynamics and pricing far exceeding the 2018 cloud computing peak. Melius analysts further noted that AI-driven storage demand is expected to sustain strong growth through the end of the decade.

(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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