🟢 SNDK is trading 3.6% up today as it rebounds from a sharp decline following Western Digital's secondary offering

SNDK is trading at $611.53 (+3.6%) as the stock rebounds from a sharp decline following Western Digital's $3.17 billion secondary share offering announcement.

• Shares recovered from a 5.74% drop on February 17 as investors digested the debt-for-equity transaction, which priced 5.82 million shares at $545 each—a 7.7% discount to the previous close.
• The offering, expected to close Thursday, reduces Western Digital's overhang; meanwhile, Citigroup bolstered sentiment by maintaining a Buy rating and raising its price target to $750.