NEW YORK, Feb 24, 2026, 16:11 (EST) — After-hours
Sandisk Corporation (SNDK) dropped 4.2% to end Tuesday at $638.63, following news that Citron Research had taken a short position in the flash-memory company. Shares bounced between $612.92 and $684.09 during the session. After the bell, the stock edged up 0.2% to $640.
The call landed on a stock that’s already up 175% since the start of the year and has skyrocketed more than 1,200% over 12 months—making it vulnerable to letdowns. Citron set its short thesis on weakness in NAND flash, the memory chip powering solid-state drives, and cautioned that market conditions could shift fast.
Citron argues Sandisk is being valued as if it’s a franchise, but that’s not how they see it. “NVIDIA has a moat. SanDisk sells a commodity,” the note reads. Samsung? Citron calls it the “800-pound gorilla” in flash memory. Stocktwits
Sandisk, headquartered in Milpitas, California, makes data storage products built on NAND flash—everything from SSDs and USB drives to removable cards. The company, according to its profile, targets cloud, client, and consumer segments. David Goeckeler is CEO.
Sandisk on Tuesday introduced its latest portable SSD lineup, targeting users handling larger files and “AI developed content.” Consumer marketing VP Heidi Arkinstall said the new drives aim to “support customers across their storage needs.” Another executive added, the products can “move massive files blazing fast.” Sandisk
On Tuesday, it had been a year since Sandisk’s split from Western Digital. Western Digital CFO Kris Sennesael described the move to MarketWatch as “really working.” Both stocks have caught a lift from AI-fueled appetite in memory and storage. MarketWatch
Western Digital is unloading more of its Sandisk stake. The company announced last week it will bring in $3.17 billion through a partial sale to pare down debt, according to Reuters. Even after the transaction wraps, Western Digital will hang onto roughly 1.7 million Sandisk shares.
The trade runs both directions. Should flash pricing stay firm and Sandisk manage to balance demand with supply, shorts could get hit by the same volatility that can sting latecomers to the stock.
The next hurdle: management commentary. Sandisk execs will speak at Bernstein’s TMT forum this Wednesday, Feb. 25, then head to Morgan Stanley’s TMT conference on March 3. Cantor hosts them for a tech conference March 11, according to the company.
