🔴 2X Long SNDK ETF (SNXX) is trading 4.01% down today after Sandisk's 29% August gain

SNXX is trading at $13.46 (-4.01%) as Sandisk appears to undergo profit-taking after gaining 29% in August, with its extreme rally increasing downside sensitivity.

• Broader NAND backdrop remains constructive, with August NAND prices reaching a record high amid AI infrastructure demand, though the rally may be cooling.
• Broader equities are higher, suggesting the decline is primarily sector-specific rather than a market-wide selloff.