SanDisk is trading 10.1% down at $8.99 today, sliding more than the broader market as investors rotate out of memory-chip names and react to sector-wide DRAM weakness.
- The decline is being fueled by concerns that the large upcoming CXMT IPO will drain liquidity from existing semiconductor and AI-related holdings.
- Traders are also engaging in profit-taking following a recent rally in the stock, amid broader pressure on the memory-chip sector.