SanDisk (SNDK) priced a secondary offering of 5.8 million shares at $545.00 to facilitate Western Digital's exit, with shares rising 1.66% to $600.40. The move follows a massive Q2 earnings beat and is seen by analysts as a key step in clearing a significant stock overhang.

  • The company reported Q2 earnings of $6.20 per share, significantly exceeding the analyst expectation of $3.49.
  • Analysts suggest the offering allows investors to focus on SanDisk's dominant role in the AI-driven NAND flash memory market.
  • SNDK shares closed at $600.40, recovering from a sharp drop in the previous session following the pricing announcement.