Movement Alert｜Tradr 2X Long SNDK Daily ETF Falls 7.25% in Pre-Market Trading, Profit-Taking on SanDisk After Bernstein Target Hike Amplified by Leverage

Market Focus07-01

On July 1, Tradr 2X Long SNDK Daily ETF declined 7.25% in pre-market trading, trading at $38.77/share, with turnover of $9.88 million. The decline was driven by profit-taking in the underlying stock SanDisk following a sharp intraday rally the prior session.

On the news front, SanDisk surged over 5% during regular trading on June 30 after Bernstein raised its price target from $1,700 to $3,000, citing new-generation long-term agreements (LTAs) that are reshaping the memory industry business model. However, SanDisk subsequently fell over 3% in after-hours trading as investors locked in gains. The stock had experienced a cumulative decline exceeding 18% from June 26 to 29 before the recovery bounce, and selling pressure remained elevated. Additionally, the options market saw a $20.5 million far-dated out-of-the-money put purchase, signaling continued hedging demand for medium-term downside risk. As a 2x leveraged long product tracking SanDisk, the ETF amplified the underlying stock's pullback through its leverage mechanism, resulting in a steeper decline.

(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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