$SanDisk Corp.(SNDK)$
This looks like the buy point where institutions step in to defend price. SNDK was up 22.5%, or $338, from the low last Wednesday. The price is now down 100, or 30% of that $338 gain. Since funds were the ones that started buying at the $1740 level as part of the inclusion, that's likely where they begin defending price, and they can afford to absorb more shares with the drop.
The price action doesn't represent SNDK. It represents typical market moves. When SanDisk joined the Nasdaq 100 in April, the same thing happened. A 12% bid on inclusion day, then -5% the following day. But it didn't stop SanDisk from running 1450 points thereafter.
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