A Deadly Chart Pattern Says SanDisk’s 47% Crash Isn’t Over
SanDisk (SNDK) stock has crashed 47% in a month, and the SanDisk stock price now clings to one last support line after a brutal memory sector selloff.
The fall flipped a euphoric rally into a rout. Even so, SanDisk still holds a year-to-date gain of about 362%, a reminder of how far and how fast this stock ran.
Memory Selloff Turns the Rally Into a Rout
SanDisk dropped 14% on Tuesday to close near $1,096, capping a 47% slide over one month. The move erased months of gains in a matter of weeks.
The trigger came from Asia. Memory chip stocks sank after South Korea's SK Hynix posted quarterly results that missed forecasts, reviving fears that AI-driven demand is cooling. The weakness spread quickly to Micron, Western Digital, and SanDisk.
This content is automatically aggregated. Full credit goes to the original publisher (beincrypto.com).
