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$66,459.00+1.64%
ETH$1,921.90+1.29%
USDT$0.9994+0.03%
USDC$0.9999+0.01%
XRP$1.15+3.35%
SOL$78.05+0.53%
TRX$0.3285+0.82%
FIGR_HELOC$1.00-0.75%
HYPE$61.76-0.60%
DOGE$0.0733+0.21%
USDS$0.9999+0.02%
RAIN$0.0141-0.01%
ZEC$538.15-2.60%
LEO$9.71+0.12%
WBT$57.88+1.50%
BTC$66,459.00+1.64%
ETH$1,921.90+1.29%
USDT$0.9994+0.03%
USDC$0.9999+0.01%
XRP$1.15+3.35%
SOL$78.05+0.53%
TRX$0.3285+0.82%
FIGR_HELOC$1.00-0.75%
HYPE$61.76-0.60%
DOGE$0.0733+0.21%
USDS$0.9999+0.02%
RAIN$0.0141-0.01%
ZEC$538.15-2.60%
LEO$9.71+0.12%
WBT$57.88+1.50%
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.