Sandisk, Thar She Blows!

In front of Sandisk's upcoming inclusion in the Nasdaq-100 Index on April 20, 2026 (replacing the software play, TEAM), the stock is shooting higher roughly 11% as I write this. On top of the recent surge beginning at the very end of March, you are talking about a stock which has gone from $558.58 to a high today of $946.50 (as of this writing) in just a matter of days. Furthermore, considering SNDK was trading in the $40s as recently as August 2025, one could easily argue that the stock has been the hottest momentum name in the entire tape amongst any names of a certain market cap. 

The pertinent issues for SNDK going forward are twofold. First and foremost, this is clearly some type of chase by both retail and institutions into the name given the lack of strong leadership in the market since the Iran War began and, frankly, even leading up to it we saw many Mag7 names begin to falter in terms of upside momentum. Thus, when the inclusion officially arrives on April 20th, a sell-the-news event seems more likely than not. Secondly, SNDK's next earnings date is April 30th, the day after the April FOMC. Without question, the stock has an exceedingly high bar to meet in terms of AI memory growth.

But what if the rest the market does not follow Sandisk higher? Now we have an extremely crowded, expensive, technically parabolic name essentially on an island of its own making. 

Simply put, SNDK must not only perform for its own shareholders at this point but also the entire AI space, if not the entire Nasdaq. It has clearly helped that the stock has a President hell-bent on talking stocks up and oil down around the clock. 

However, should the market run out of hope and patience if no bonafide peace deal comes through, the burden once again falls on SNDK to continue to defy gravity especially when a name like NVDA is essentially flat today.