Why Sandisk Stock Dropped on Monday
Sandisk (NASDAQ:SNDK) stock sank 6.6% through 9:55 a.m. ET Monday — and it’s no mystery why.
Three months ago, worries about the durability of artificial intelligence demand combined with the threat of new competition in memory chips from China to cut Sandisk’s stock price in half.
An IPO by ChangXin Memory Technologies, or CXMT — a Chinese maker of DRAM memory chips — sparked much of this selling. Today, CXMT is back in the news.
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