SNXX, as SanDisk’s 2x leveraged ETF, has recently followed its underlying asset amid multiple positive catalysts. The S&P 100 Index will be formally included in SanDisk (SNDK) on September 21, directly driving passive allocation demand from index funds. Lynx Research has set a $2,450 price target (still offering roughly 41% upside from the current price), with 20 out of 24 analysts giving a “Buy” rating. The South Korean government’s rollout of free, nationwide generative AI services will directly boost long-term demand for SanDisk NAND storage. JPMorgan previously raised its rating on SanDisk to “Overweight,” set a $2,250 price target, and noted that the long-term supply agreements it has signed with customers are worth about $94 billion. SanDisk and Kioxia also plan to invest more than $31 billion in capacity expansion for AI storage in Japan. With these positive developments resonating together, SNXX still has momentum to move higher in the near term.

$SNXX - More
Enter the trade from below 👇