Sandisk and Micron Slide as Chip Selloff Deepens Ahead of Sandisk Split
· 6 sources
Chip shares extended losses on Nov. 13, with Sandisk and Micron among those lower after Nvidia's leadership change. Sandisk's 8-for-1 split starts Nov. 20.
What happened
Chip stocks came under pressure again on Friday, November 13, with Sandisk (SNDK) and Micron Technology (MU) among the names trading lower, according to TradingView and BigGo Finance.
TradingView reports the selloff extended the previous session's losses and followed a leadership change at Nvidia. BigGo Finance also links the slump in Micron, Sandisk and SK hynix to turmoil at Nvidia and inflation fears.
TradingView adds that Sandisk's 8-for-1 stock split takes effect with split-adjusted trading starting on November 20. Benzinga, TradingKey and Yahoo Finance also published pieces on Sandisk's move on the day.
Context
A stock split increases the number of shares outstanding and lowers the per-share price proportionally, without changing a company's overall market value.
Why it matters
The episode shows how sentiment around a major chip company such as Nvidia can spill over to memory and storage stocks.
Stocks in this story
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
$2,436.46Fair range: $2,100.00 to $3,805.22The price ($860.98) is 64.7% below that figure.
Chance of a rise in 1 month
43%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $661.21 and $1,003.67; 9 in 10, between $456.73 and $1,453.01.
$1,436.07Fair range: $370.00 to $2,256.84The price ($760.31) is 47.1% below that figure.
Chance of a rise in 1 month
45%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $632.59 and $863.68; 9 in 10, between $480.00 and $1,138.24.
Fair value, probabilities and earnings for every stock. Free account, no card. Information, not advice.
Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer
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