Why Sandisk Stock Fell Today After Being Up Big
Sandisk stock has wavered in light of market volatility lately, but it's still up roughly 3,840% over the last year.
Why Sandisk Stock Fell Today After Being Up Big
Overview
Sandisk (NASDAQ: SNDK) stock closed out Wednesday's daily trading session in the red despite having been up big earlier in the day. The company's share price closed out the day down 0.3%, but it had been up as much as 7.2% close to the market open. Meanwhile, the S&P 500 ended the day down 1.6%, and the Nasdaq Composite fell 2%.
Sandisk stock actually surged early in today's session as investors bet on its strong outlook in the artificial intelligence (AI) memory tech market, but it lost ground as the market became more worried about the inflation outlook. With today's modest valuation pullback, the stock is still up 592% year to date as of this writing.
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Originally published at www.fool.com.
