🔴 SanDisk 2X ETF (SNDU) is trading 11.1% down in pre-market after SanDisk shares reverse following rally

SNDU is trading 11.1% down in pre-market, primarily as SanDisk shares reverse after their extraordinary post-Investor Day rally.

• SanDisk’s August 13 outlook fueled optimism around AI-storage demand, long-term contracts, and approximately 80% margins; on August 18, the stock fell 4.98%, indicating profit-taking and momentum unwinding.
• Nasdaq-100 futures fell 0.68%, adding pressure to SNDU, a concentrated 2x leveraged product designed to deliver 200% of SanDisk’s daily performance.