Why Is SANDISK CORP (SNDK) Stock Up Today?

Sandisk Corp (SNDK) shares rose 15.75% to close at $995.46. The primary driver was a relief rally in memory and storage stocks following CoreWeave’s strong earnings report, which revived interest in the AI infrastructure trade.

What Happened

The surge followed a steep monthly slide in the sector, with storage names leading the recovery. Seagate Technology stock rose 9% to $547.36, while Micron climbed 7% in the same session. Analysts noted that the recovery in AI-related equities has significant room to run. Evercore defended the stock after the recent selloff, highlighting the company’s strong cash generation compared to peers. The move coincided with a scheduled 8-for-1 stock split, which has an ex-date of November 20, 2026.

What The Data Shows

Sandisk opened at $927.74, a 7.9% gap up from the prior close of $859.99. The session high reached $997.12 at 10:30 AM ET, while the low was $920.11 at 9:35 AM ET. Volume stood at 5.7 million shares, which is 0.5x the three-month daily average. Fundamentals show a market cap of $126.1 billion, a P/E of 6.9, revenue growth of 272.4% on a trailing twelve-month basis, and a net margin of 67.0%. The 52-week range spans from $183.00 to $2354.39. Over the last eight sessions, the stock had fallen 25.3% from $1150.89 to $859.99. Unusual options activity included two notable prints with $18.4 million in call premium versus $0 in put premium, with the largest single print at $9.5 million. Insider filings over the last 90 days show nine sells totaling $104,000 and no buys.

What To Watch

Investors should monitor the upcoming stock split effective November 20, 2026, and continued momentum in the broader AI storage sector. Coverage from 11 sources in the last 36 hours suggests sustained attention to the company’s valuation and its role in the data center buildout.