David Tepper Sold His Entire Sandisk Stake the Quarter the Stock Peaked
The filing shows a fund selling into the memory maker's most vertical quarter -- and a report has it buying back into memory stocks once it ended.
Overview
Sandisk(NASDAQ:SNDK) stock peaked on June 22, when it touched $2,354.39. Somewhere inside that same quarter, David Tepper's Appaloosa sold every share it owned.
The fund's second-quarter 13F, filed with the SEC on Aug. 14, shows zero Sandisk shares as of June 30. At the end of March, it had reported 281,250 of them, worth about $179 million -- about 3% of its reported holdings.
Details
The growth stock has fallen about 31% from the June peak as of this writing.
Source
Originally published at www.fool.com.
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