SanDisk (SNDK) shares plummeted 8.50% to $1288.00 on May 18, 2026, as weak industrial data from China and a significant stake divestment by its former parent company rattled investors.
- The company faces heightened vulnerability due to its Chinese market exposure, which accounts for 28% of its total revenue.
- Selling pressure was compounded by Western Digital systematically unwinding a $1 billion stake, alongside technical exhaustion and insider profit-taking near the $1,500 level.
- Despite the sharp correction, Bernstein maintains an "Outperform" rating for the stock with a price target of $1,700.