Why Sandisk Stock Is Sinking Today
Sandisk (NASDAQ: SNDK) stock is getting hit with another round of big sell-offs on Wednesday. The company's share price was down 4.5% as of 1:35 p.m. ET against the backdrop of a 0.7% decline for the S 500 and a 0.7% decline for the Nasdaq Composite. Sandisk had been down as much as 7.9% earlier in the session.
Memory and storage stocks are seeing a substantial valuation pullback that's a key factor in broader valuation contractions for AI companies and the market at large. But despite trading down roughly 55% from its high, Sandisk stock is still up roughly 2,400% over the last year.
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Source Fool.com
