--- title: "Weekly Recap | SNDK 2X Short ETF +16.8%, Sandisk loses $1,600" type: "News" locale: "en" url: "https://longbridge.com/en/news/301458470.md" description: "The SNDK 2X Short ETF rose 16.8% this week, moving from $10.89 at last Friday’s close to $12.72. The S&P 500 gained 1.15% over the same period, so the product outperformed the benchmark by roughly 15.65 percentage points. Day by day, the fund opened lower on Monday before steadying, continued higher on Tuesday, spiked after a gap-up on Wednesday and then reversed, regained momentum on Thursday, and finished near the week’s high. The weekly trading range was 20." datetime: "2026-10-10T04:48:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/301458470.md) - [en](https://longbridge.com/en/news/301458470.md) - [zh-HK](https://longbridge.com/zh-HK/news/301458470.md) generator: "portal-rs" --- # Weekly Recap | SNDK 2X Short ETF +16.8%, Sandisk loses $1,600 ## The Week The SNDK 2X Short ETF rose 16.8% this week, moving from $10.89 at last Friday’s close to $12.72. The S&P 500 gained 1.15% over the same period, so the product outperformed the benchmark by roughly 15.65 percentage points. Day by day, the fund opened lower on Monday before steadying, continued higher on Tuesday, spiked after a gap-up on Wednesday and then reversed, regained momentum on Thursday, and finished near the week’s high. The weekly trading range was 20.75%, reflecting a choppy, upward-tilting week. ## Sandisk This Week Underlying stock Sandisk fell 8.03% this week, sliding from $1,719.99 to $1,581.82, with a 9.71% range. It lost ground on Monday and Tuesday, staged a sharp intraday rebound on Wednesday but still closed below Tuesday’s high, then broke back below $1,610 on Thursday and resumed its decline on Friday, ending near the week’s low and just below the $1,600 mark. The heaviest downside pressure arrived after midweek. ## Leverage & Decay This product seeks to replicate negative two times the daily move in Sandisk, not negative two times the weekly cumulative return. With Sandisk down 8.03% on the week, a simple -2x calculation suggests a gain of about 16.06%; the actual move was 16.8%, a gap of 0.74 percentage points. The difference comes from daily rebalancing: sharp single-day reversals on Wednesday and Thursday shifted the compounding path away from the simple multiple. In trending markets this drag is usually limited, but in choppy conditions it widens, so holding for longer periods does not equal two times the cumulative inverse return. ## Sandisk News This week’s Sandisk news flow revolved around two broad swings in memory-chip stocks. From Wednesday’s after-hours session into Thursday, softer NAND prices, strike risk at Micron, and an OpenAI revenue report that missed expectations triggered a sell-off in AI hardware and the Philadelphia Semiconductor Index, with Sandisk at one point down more than 6% intraday. Then from Friday’s pre-market into the overnight session, memory names rebounded in sync, with Micron, SK Hynix and Sandisk all gaining. A fund added a new $2.90 million position during the week, while another institution trimmed its stake, leaving flows within the sector mixed. ## Sandisk — Analyst Ratings Sandisk is covered by 25 institutions: 17 rate it buy, 4 rate it overweight, 3 rate it hold, and 1 rates it underweight, with no sell or no-opinion ratings. That leaves 21 buy and overweight ratings combined. The consensus rating is buy, with a consensus target of $2,173, about 37.4% above the latest close of $1,581.82. Targets range from $1,000 to $3,600, pointing to wide dispersion. Within the hardware, storage and peripherals industry, Sandisk’s rating ranks around fifth. ## The Week Ahead Sandisk’s next earnings report is scheduled for 29 October 2026 after the close, covering Q1 FY2027, and should offer a firmer read on the durability of AI storage demand. On the macro side, the coming week brings the US NFIB small business optimism index, existing home sales on an annualised basis, and CPI data, with core CPI expected at 2.5%. For this -2x product, the week’s volatility will largely hinge on the direction of Sandisk and the broader memory complex. ## In Short The tension this week is straightforward: Sandisk fell 8.03%, pushing this inverse ETF to $12.72 and near the top of its weekly range, while the consensus analyst target sits well above the current underlying price, suggesting sell-side expectations lean toward upside. Those opposing directions, together with sharp swings across memory stocks, leave little room for a one-sided view. What matters next is how the market reprices rates and AI capex after the CPI release, and whether Sandisk’s late-October earnings can offset the sector-level selling pressure. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [SNDQ.US](https://longbridge.com/en/quote/SNDQ.US.md) ## Related News & Research - [Memory Stocks Are Plummetting. Jensen Huang Says the Bears Have It Wrong.](https://longbridge.com/en/news/302948213.md) - [Citigroup CEO Jane Fraser Says the Bank Is on 'Front Foot' With Cyber Defenses and AI as Q3 Revenue Hits Decade-High](https://longbridge.com/en/news/301849123.md) - [SK Hynix to announce steps to boost shareholder returns on Wednesday](https://longbridge.com/en/news/303016405.md) - [Darling Ingredients (DAR) Could Be 31% Undervalued On Reaffirmed Guidance And Product Launch](https://longbridge.com/en/news/302994330.md) - [Oruka Therapeutics to Host Conference Call to Report Week 16 Data for ORKA-001 from the Ongoing EVERLAST-B Trial on October 26, 2026 | ORKA Stock News](https://longbridge.com/en/news/302993263.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**