Sandisk Stock Is Up 770% This Year and Polymarket Just Called It "the Most Overbought Stock in History." Here's the Case for Buying Anyway.
Technical analysis doesn't tell the whole story.
Sandisk Stock Is Up 770% This Year and Polymarket Just Called It "the Most Overbought Stock in History." Here's the Case for Buying Anyway.
Overview
Sandisk (NASDAQ: SNDK) stock continues its epic run, defying all expectations. Shares of the artificial intelligence (AI) infrastructure company are up 726% this year, making Sandisk the best-performing stock in the Nasdaq-100.
But that performance is also bringing out some skeptics. Polymarket, which runs a popular prediction markets platform, announced in a social media post that Sandisk is "officially the most overbought stock in history."
Details
The platform cited Sandisk's relative strength index (RSI), a technical stock analysis tool that measures the speed and magnitude of price changes to indicate whether a stock is overvalued or undervalued. RSI operates on a scale of 1 to 100. Readings over 70 are considered overbought and potentially overvalued. Sandisk's RSI was 99.
Source
Originally published at www.fool.com.
