Sandisk Has Gone From Under $50 to Above $1,400 in a Year. Can the Run Continue?
The memory maker's earnings have exploded alongside its stock. The next act is a much harder call.
Overview
A year ago, shares of Sandisk (NASDAQ: SNDK) traded below $50. As of this writing, they sit above $1,400 -- a gain of more than 3,000% in 12 months, and one of the biggest runs anywhere in the market.
That figure actually understates how hot the stock has been. Shares hit a record high of $2,354.39 earlier this summer before pulling back sharply.
Details
A move like that usually means a mania or an earnings explosion. For Sandisk, it has mostly been the second one. But this is still the memory business, and the stock's second year looks much harder to handicap than its first.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.