SanDisk is trading 10.9% down at $7.76 as a sector-wide rotation out of memory-chip names and concerns over the upcoming CXMT IPO continue to weigh on the stock.

  • The move extends a sharp decline from July 24, 2026, when shares fell approximately 10% due to DRAM market weakness.
  • Investor caution remains high across the memory segment, with many rotating capital out of established semiconductor names.
  • Market participants are increasingly worried that the upcoming CXMT IPO will further drain liquidity from the sector.