SNDG is trading 11.4% down today as profit-taking and a reversal in AI memory and storage chip enthusiasm trigger a sharp pullback in the 2x leveraged ETF.
- The decline follows several days of strong gains for SanDisk (SNDK), with sentiment shifting as investors lock in profits following the recent rally.
- Broader weakness in U.S. equity futures is adding pressure to high-beta semiconductor names and leveraged storage exposures, fueling a shift toward risk-off sentiment.