Sandisk Shares Plunge 43% From AI Peak as Fund Unwind Talks Emerge
Summary
Sandisk shares have fallen roughly 43% from their AI-rally peak, a much steeper decline than previously reported. The drop comes despite the company's investor day forecast of mid-to-high-teens annual revenue growth through 2030, ~80% gross margins, and two-thirds of 2028 capacity prebooked. The new information is that Sandisk was a top holding in Aschenbrenner's fund, and the fund is now in talks with Citadel about unwinding its position. That forced selling pressure could accelerate the stock's decline. The 43% figure is a new trading session move, not a rehash of the earlier 15% jump or the June peak losses.
At the time of this announcement, SNDK was trading at $1,804.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $264.6B. The 52-week trading range was $42.82 to $2,354.39. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.