Why Sandisk Stock Skyrocketed 54.6% Last Month But Is Sinking in June
May was a great month for Sandisk stock, but shares have taken a step back this month.
Why Sandisk Stock Skyrocketed 54.6% Last Month But Is Sinking in June
Overview
Sandisk (NASDAQ: SNDK) stock surged higher in May's trading. The memory technologies company's share price gained 54.6% across the stretch. Meanwhile, the S&P 500 gained 5.2%, and the Nasdaq Composite rose 8.4%.
On April 30, Sandisk published results for the third quarter of its current fiscal year -- a period that ended April 2. The strong results gave the go ahead for strong bullish momentum in a month that saw very bullish trading for artificial intelligence (AI) chip stocks.
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Details
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.
