Market Analysis
Why Is Sandisk Stock Soaring Over 19% in Premarket Today? Earnings Crush Expectations
Sandisk shares rose over 19% premarket after the company posted a sharp earnings beat and issued strong Q3 guidance.
BTC$60,092.00-0.29%
ETH$1,574.00-0.33%
USDT$0.9986+0.01%
USDC$0.99970.00%
XRP$1.05-1.01%
SOL$70.80-1.70%
TRX$0.3222+0.52%
FIGR_HELOC$1.04+1.52%
HYPE$62.06-3.05%
DOGE$0.074-2.12%
USDS$0.9997+0.02%
RAIN$0.0156-0.80%
LEO$9.50+1.54%
ZEC$396.80-4.00%
XMR$316.15-1.28%
BTC$60,092.00-0.29%
ETH$1,574.00-0.33%
USDT$0.9986+0.01%
USDC$0.99970.00%
XRP$1.05-1.01%
SOL$70.80-1.70%
TRX$0.3222+0.52%
FIGR_HELOC$1.04+1.52%
HYPE$62.06-3.05%
DOGE$0.074-2.12%
USDS$0.9997+0.02%
RAIN$0.0156-0.80%
LEO$9.50+1.54%
ZEC$396.80-4.00%
XMR$316.15-1.28%
Western Digital is selling $3.17 billion worth of Sandisk shares at a discount, putting pressure on the stock in premarket trading.
Sandisk shares rose over 19% premarket after the company posted a sharp earnings beat and issued strong Q3 guidance.
Sandisk joins the prestigious S&P 500 index today, triggering mandatory buying from passive funds and driving shares up over 5% in premarket trading to $226.70.
Sandisk Corporation has successfully begun trading on the Nasdaq Stock Market as an independent entity.