New York, Feb 25, 2026, 10:04 a.m. EST — Regular session
- Sandisk shares picked up slightly in early trading Wednesday, following a steep, high-volume drop the session before.
- Citron Research is out with a new short call, grabbing traders’ focus, while some are also watching a Bernstein forum scheduled for later in the day for any signals on flash-memory supply.
- CEO David Goeckeler recently offloaded shares, according to a filing, with the transactions linked to tax withholding.
Sandisk (SNDK.O) edged up roughly 0.2% to $639.76 in early Wednesday action, recovering some ground after a whipsaw drop reignited interest in the flash-memory name. The Nasdaq gained 1.1%. Storage rivals Western Digital and Seagate ticked higher as well. (Google)
SanDisk shares slumped Tuesday after Citron Research went public with a fresh short position, warning of cyclical headwinds in memory and ramped-up competition. Citron contended the market had it wrong, saying, “NVIDIA has a moat. SanDisk sells a commodity.” (Investing.com)
Here’s why it’s grabbing attention now: Sandisk is set to appear Wednesday at Bernstein’s “What’s Next in Tech?” event, and investors are watching closely for any word on supply and pricing. KC Rajkumar of Lynx Equity Strategies says he’s looking for management to address the ongoing NAND flash shortage—NAND being the memory behind solid-state drives—and lay out any discussions with major cloud customers about non-cancellable, multi-year supply deals. (Investing.com UK)
Shares finished Tuesday at $638.52, dropping 4.2% after ranging from $612.92 to $684.09. Volume picked up to roughly 30.4 million shares as the short call landed—well above what’s been typical lately. (Investing.com)
Another headache: excess supply—this time, it’s shares, not semiconductors. Western Digital (WDC.O) last week outlined plans to generate $3.17 billion by offloading part of its Sandisk holding, trading 5.8 million shares to address debt, with the remainder set for disposal down the line. (Reuters)
According to the prospectus supplement, selling stockholders are putting the shares up for sale, while Sandisk itself “will not receive any of the proceeds.” This underscores the deal’s real focus: shifting ownership, not raising capital for the company. The filing notes that up to 7,513,019 shares held by Western Digital could be resold under this registration. (SEC)
Sandisk chief David Goeckeler disclosed in a separate filing that he parted with 1,300 shares on Feb. 20, and another 1,032 shares the following day, both at $649.97. The transactions, flagged as tax-related withholding, were described in the form as “Payment of tax obligation by withholding securities” triggered by vesting. (SEC)
Yet things can shift in a hurry. Memory markets run in cycles, and just a hint of supply rebounding ahead of schedule—or a crack in pricing strength—can sour sentiment. If shorts pile in and major holders start offloading shares, that packed trade may unravel faster than many expect.
Next up for investors: all eyes on Sandisk’s slot at Bernstein, scheduled for Wednesday at 6:30 p.m. ET. The focus is clear—details on those “multi-year” contracts. Investors want specifics: volumes, pricing, how long these deals really last. They’re also looking for any hint from management about possible short-term softness in datacenter storage demand.
