On June 30, Tradr 2X Long SNDK Daily ETF rose 6.38% in regular trading, trading at $38.78/share, with turnover of $202 million. The rally was driven by a broad rebound in the memory chip sector following a steep multi-day selloff, amplified by the ETF's 2x leveraged structure.

On the news front, Bernstein raised its price target on SanDisk from $1,700 to $3,000, arguing that a new generation of long-term supply agreements (LTAs) featuring fixed or banded pricing, financial guarantees, and 3-to-5-year durations is fundamentally reshaping the memory industry's business model. The firm noted that stress tests show LTA-covered earnings remain significantly above historical cycle troughs even under severe price declines, positioning SanDisk with a structural advantage over competitor Micron as AI infrastructure buildout intensifies demand.

The Philadelphia Semiconductor Index had fallen nearly 8% in the prior week, its largest weekly decline since early April, with SanDisk and other memory leaders previously dropping over 10% in a single session. Following the consecutive sharp declines, capital flowed back into the sector, triggering a recovery bounce that the ETF's leverage mechanism further magnified.

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