On August 12, Tradr 2X Long SNDK Daily ETF rose 8.45% in pre-market trading, trading at $10.82/share, with turnover of $11.35 million. The ETF is a 2x leveraged long product tracking SanDisk, whose underlying stock gained over 3.4% pre-market, with the leverage effect further amplifying gains.

On the news front, multiple institutions have collectively upgraded SanDisk ratings. Argus Research upgraded the stock to Buy, Huaxing Capital maintained its Buy rating with a $2,000 target price, and Bank of America maintained a $2,500 target, citing AI storage demand as a driver for sustained earnings growth. According to FactSet data, SanDisk currently holds an average analyst rating of Overweight with an average target price of approximately $2,234, significantly above its current trading level.

For context, SanDisk recently reported Q4 earnings with revenue of $8.97 billion and adjusted EPS of $39.25, both beating expectations, with data center revenue surging 437% year-over-year. However, Q1 EPS guidance of approximately $45 came in slightly below the $45.58 consensus, which had previously triggered selling pressure and a cumulative drawdown exceeding 25% in the leveraged ETF.

(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.)