$SNDKB just took the memory selloff personally.
Sandisk's tokenized stock is down 9.5% in 24 hours ($1,395 → $1,258, $47M changing hands on Binance), underperforming even the equity it tracks — Sandisk stock itself touched $1,297 intraday, roughly -6% on the day.
The tape is a two-day waterfall: Oct 21's 12:00 UTC dump bar ($1,412 → $1,331 on the day's biggest 4h volume), a grind lower, then today's 12:00 UTC bar ($1,325 → $1,281 on $19.4M) and a fresh low $1,257.78 after the US close. From Oct 21's $1,425 high: -11.8%.
This isn't a Sandisk story — it's a memory story. The whole basket is bleeding on the same fear: Micron's 10-Q flagged the threat of DRAM/NAND oversupply from industry investment, China's CXMT had that explosive July debut, and the AI-memory pump has been fading for a week. Investing.com is already ranking "memory rebound candidates" — Micron first. Sandisk isn't on that list yet.
The verdict date is set: Sandisk reports Oct 29, options pricing a 7.7% move.
Honest both sides: SNDK is -46% off its June $2,370 ATH, so the weak hands may be gone; but the supply-fear bid is getting louder, not quieter, and this token keeps fading after every bounce.
Is the memory trade dead, or is Oct 29 the funeral — or the bottom?
Sandisk's tokenized stock is down 9.5% in 24 hours ($1,395 → $1,258, $47M changing hands on Binance), underperforming even the equity it tracks — Sandisk stock itself touched $1,297 intraday, roughly -6% on the day.
The tape is a two-day waterfall: Oct 21's 12:00 UTC dump bar ($1,412 → $1,331 on the day's biggest 4h volume), a grind lower, then today's 12:00 UTC bar ($1,325 → $1,281 on $19.4M) and a fresh low $1,257.78 after the US close. From Oct 21's $1,425 high: -11.8%.
This isn't a Sandisk story — it's a memory story. The whole basket is bleeding on the same fear: Micron's 10-Q flagged the threat of DRAM/NAND oversupply from industry investment, China's CXMT had that explosive July debut, and the AI-memory pump has been fading for a week. Investing.com is already ranking "memory rebound candidates" — Micron first. Sandisk isn't on that list yet.
The verdict date is set: Sandisk reports Oct 29, options pricing a 7.7% move.
Honest both sides: SNDK is -46% off its June $2,370 ATH, so the weak hands may be gone; but the supply-fear bid is getting louder, not quieter, and this token keeps fading after every bounce.
Is the memory trade dead, or is Oct 29 the funeral — or the bottom?