Shares of SanDisk Corp (NASDAQ:SNDK) are retreating on Thursday as investors pull capital off the table following an 412.27% year-to-date surge.
The decline marks a shift in momentum for the memory giant, which has recently dominated the AI storage narrative.
Short Interest Inches Higher
Recent data indicates a notable shift in market sentiment. Short interest in SanDisk increased during the latest reporting period. The number of shares held short rose from 8.06 million to 9.75 million.
This spike brings the short float to 10.33% of the company’s publicly available shares.
Based on an average daily volume of 16.83 million shares, short sellers could exit positions in just one day without necessarily triggering a massive squeeze.
Burry Signals Dot-Com Redux
Adding to the tension, “The Big Short” investor Michael Burry voiced concerns via X on Wednesday. Burry noted that the Nasdaq surge is “more extreme” than the 1999 bubble.
Burry highlighted that Qualcomm Inc. (NASDAQ:
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