SanDisk (SNDK) Stock Is Tumbling - Here’s What’s Driving the Selloff
TLDR
- SNDK stock fell 11% Monday and dropped another 7.14% in premarket Tuesday, trading around $1,187
- Investors are questioning whether AI infrastructure spending can generate sufficient returns
- Chinese chipmaker CXMT surged 466% on its Shanghai debut, raising fears of increased competition
- SK Hynix and Samsung fell 14.7% and 13.4% respectively in Asian trading
- SNDK broke below the $1,300 technical support level and its 100-day moving average
SanDisk stock is in freefall. SNDK closed Monday at $1,278.23, down 11.02%, then dropped another 7.14% in premarket Tuesday to approximately $1,187.01.
The selloff is part of a broader memory-chip rout rather than any company-specific news. Micron, SK Hynix, and Samsung have all been caught in the same wave of selling.
The pressure started building after a report that Nvidia could backstop up to $250 billion in financing for an OpenAI data-center project. That raised fresh concerns about circular financing — where a supplier is also a major investor in its own customer. Nvidia stock fell roughly 5% on Monday as the story spread across the sector.
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