Why Is Sandisk Stock Still Dropping?
Why do so many investors own so much Sandisk stock? Because it's cheap.
Overview
Is Sandisk (NASDAQ: SNDK) stock overbought... and overpriced?
Worries over a Morgan Stanley report yesterday, which compared the percentage of the S&P 500 index that is Sandisk stock versus the percentage Sandisk occupies in the portfolios of large institutional investors -- and concluded Sandisk is "over-owned" -- spooked investors yesterday. By close of trading, Sandisk stock had fallen 9%.
Details
As we approach the mid-day mark Wednesday, Sandisk stock continues to drift lower -- down 2.2% as of 11:30 a.m. ET.
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.