Why Sandisk Stock Is Sinking Today After Being Up 10%

Sandisk (NASDAQ: SNDK) stock is in the red in Tuesday's trading despite having initially posted big gains. As of 12:30 p.m. ET, the company's share price was down 3.5%. Meanwhile, the S&P 500 was off 1.6%, and the Nasdaq Composite was down 3.2%. The stock had been up as much as 9.8% early in the day's trading. Sandisk opened today's daily session with bullish momentum at its back, but its valuation has retreated as investors turned bearish on the broader market. Weakening momentum for the artificial intelligence (AI) chip stock trade and some market jitters ahead of SpaceX's massive upcoming initial public offering (IPO) are to blame. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool