Premarket: memory stocks that got cut in half over three months are jumping as much as +9%.
→ Nasdaq futures +2.0%, S&P futures +1.0%, VIX 18.4 (−5.2%)
→ Seagate +9.2%, SanDisk +8.4%, Micron +7.0%, sparked by CoreWeave earnings (+15.4%)
→ At its premarket price, SanDisk is still 51% below its 3-month high and needs +105% to get back there
I think a 9% bounce in a stock that's been cut in half in three months isn't a bottom signal on its own.
Worst case: if the opening gains get wiped out in the first hour, yesterday's selloff picks up right where it left off; that's what I'm watching.
#Stocks #AI
Watching: $MU $STX $SNDK
→ Nasdaq futures +2.0%, S&P futures +1.0%, VIX 18.4 (−5.2%)
→ Seagate +9.2%, SanDisk +8.4%, Micron +7.0%, sparked by CoreWeave earnings (+15.4%)
→ At its premarket price, SanDisk is still 51% below its 3-month high and needs +105% to get back there
I think a 9% bounce in a stock that's been cut in half in three months isn't a bottom signal on its own.
Worst case: if the opening gains get wiped out in the first hour, yesterday's selloff picks up right where it left off; that's what I'm watching.
#Stocks #AI
Watching: $MU $STX $SNDK
