Movement Alert｜Tradr 2X Long SNDK Daily ETF Rises 8.09% in Pre-Market Trading, Multiple Banks Raise SanDisk Targets Amid AI-Driven NAND Super Cycle

Market Focus

Jun 01

On June 1, Tradr 2X Long SNDK Daily ETF (SNXX) rose 8.09% in pre-market trading, trading at $237.79 USD/share, with trading volume of approximately $23.7 million. The leveraged ETF tracking SanDisk continued its rally as multiple Wall Street banks issued aggressive target price upgrades.

On the news front, Barclays upgraded SanDisk from equal-weight to overweight, raising its target from $1,200 to $2,300. Mizuho lifted its target from $1,625 to $1,825, maintaining an outperform rating. Susquehanna raised its target from $2,000 to $3,250, maintaining a positive rating. The consensus mean target now stands at approximately $1,692.

The broader memory sector surge is underpinned by an AI data center buildout driving unprecedented demand for memory components, leading to supply shortages and price hikes. SanDisk shares have gained over 523% year to date, making it one of the largest beneficiaries of the current industry upcycle. Nvidia's recent earnings beat further confirmed strong AI chip demand, reinforcing bullish sentiment across the storage sector.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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