Sandisk Is Up More Than 35-Fold in a Year and Sits Nearly a Third Below Its Peak. History Says What Comes Next.
The memory maker's collapse-and-rebound summer has precedents. In every one of them, the following year came down to a single thing.
Overview
Memory maker Sandisk(NASDAQ:SNDK) has climbed more than 35-fold from its 52-week low of $43.20. That low was set on Aug. 20 of last year, so the run is just shy of 12 months old.
As of this writing, shares are near $1,600, down about 10% today as the whole memory group takes a beating. And even after a year like that, the stock remains about 32% beneath its June 22 peak of $2,354.39.
Details
So what happens after a stock goes parabolic and then gives back about a third of the run? I went looking for comparable cases. The honest answer: History is split.
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.