On July 9, Tradr 2X Long SNDK Daily ETF rose 11.57% in regular trading, trading at $26.0/share, with turnover of $351 million. The ETF is a 2x leveraged long product tracking SanDisk, directly amplifying the underlying stock's price movements.

On the news front, Wedbush raised SanDisk's target price from $1,200 to $2,000, maintaining an Outperform rating, while the FactSet consensus target stands at $2,251.91. This follows a wave of upgrades including Goldman Sachs raising to $2,200, Bernstein to $3,000, Jefferies to $3,000, and Renaissance Capital to $3,169. SanDisk rose 5.93% intraday to $1,837 on July 9, extending its rebound after previously falling over 20% from recent highs into technical bear market territory.

Fundamentally, SanDisk posted fiscal Q3 revenue of $5.95 billion, up 251% year-over-year, while NAND supply-demand tightness is expected to persist through mid-next year, providing support for the oversold recovery. UBS also raised its Q3 DDR contract price increase forecast from 17% to 32%.

(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.)