On August 7, Tradr 2X Long SNDK Daily ETF rose 8.13% in pre-market trading, trading at $10.65/share, with turnover of $38.71 million. The ETF is a 2x leveraged long product tracking SanDisk, and the rebound reflects an oversold recovery following the prior session's steep decline of over 25%, with the leverage effect further amplifying gains.
On the news front, SanDisk's fiscal Q4 results showed revenue of $8.97 billion and adjusted EPS of $39.25, both exceeding market expectations, with data center revenue surging 437% year-over-year. However, the company's fiscal Q1 EPS guidance midpoint of approximately $45 came in slightly below the consensus estimate of $45.58, which had triggered heavy selling in the prior session. The current pre-market bounce suggests the market is reassessing the severity of the initial reaction, as the core quarterly results significantly outperformed expectations despite the marginally soft forward guidance.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)