SanDisk named among midday movers after a steep October slide

SanDisk (SNDK) was on CNBC’s list of the stocks with the biggest moves at midday on Oct. 19. CNBC did not give the direction or size of the move or a reason, and SanDisk has not commented.

The flash-memory maker came into the session after a sharp run of losses. It closed at US$1,299.30 on Nasdaq on Oct. 16, down 6.85% from the Oct. 15 close.

A 24.15% retreat since Sept. 28

The Oct. 16 drop was SanDisk’s biggest one-day decline since Aug. 18, 41 sessions earlier, when the stock fell 9.01%. It capped a longer retreat: between Sept. 28 and Oct. 16, the shares lost 24.15%.

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The slide follows a record quarter

The slide comes after the strongest quarter in SanDisk’s recent filings. In the fiscal fourth quarter, which ended July 3, revenue reached US$8.965 billion, according to its 10-K filed Aug. 17. That was 50.67% more than the quarter before and 371.59% more than a year earlier.

Operating profit in that quarter was US$7.037 billion, up 71.17% from the prior quarter and the highest in at least six quarters. Net income came to US$6.903 billion. In the fiscal third quarter that ended March 28, 2025, the company posted an operating loss of US$1.881 billion.

Korean flash prices level off, Kioxia drops

South Korea’s export price index for flash memory, measured in US dollars, dipped 0.69% in September from August, Bank of Korea data show, though it stood 244.05% above its level a year before. The index tracks Korean exports, not SanDisk’s own prices, but it matters to holders of Samsung Electronics and SK hynix, which also make flash memory. Pacific Tape compares the two Korean makers in high-bandwidth memory separately.

Seoul Economic Daily reported on Oct. 19 that a steep drop in shares of Kioxia, a Japanese flash-memory maker, was tied to record margin debt, meaning money investors borrowed to fund share purchases. No link between that drop and SanDisk’s move has been reported.

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Information only, not investment advice.