Stock Track | Tradr 2X Long SNDK Daily ETF Soars 8.65% After-Hours on Bullish SanDisk Outlook and Morgan Stanley Target Hike

Stock Track
Apr 29

The Tradr 2X Long SNDK Daily ETF (SNXX) surged 8.65% during the after-hours session on Tuesday, sharply reversing from earlier losses in the trading day.

The leveraged ETF's after-hours rally appears driven by renewed investor optimism surrounding its underlying stock, SanDisk, ahead of the company's upcoming fiscal third-quarter earnings report. Morgan Stanley significantly raised its price target on SanDisk to $1,100 from $690 while maintaining an Overweight rating, which is well above the analyst consensus.

Market expectations for SanDisk's quarterly results are robust, with analysts citing a NAND super cycle fueled by surging AI-driven storage demand as a key catalyst. The data center business is projected to see significant growth as generative AI inference workloads are expected to drive annual storage demand growth exceeding 60%.

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