NEW YORK, Feb 24, 2026, 16:11 (EST) — After-hours
Sandisk Corporation (SNDK) shares closed down 4.2% at $638.63 on Tuesday after short-seller Citron Research said it was shorting the flash-memory maker. The stock swung between $612.92 and $684.09 and was up 0.2% at $640 in early after-hours trading. (Investing)
The call hit a stock that has surged 175% year-to-date and more than 1,200% over the past 12 months, leaving little room for disappointment. Citron framed its bet around NAND flash — a type of memory chip used in solid-state drives — and warned the current backdrop can turn quickly. (Investing)
Citron said the market is treating Sandisk like a franchise business. “NVIDIA has a moat. SanDisk sells a commodity,” it wrote, calling Samsung the “800-pound gorilla” in flash memory. (Stocktwits)
Sandisk develops data storage devices and solutions based on NAND flash technology, from solid-state drives to removable cards and USB drives, and sells into cloud, client and consumer markets, its company profile shows. The Milpitas, California-based company is led by Chief Executive David Goeckeler. (Reuters)
Earlier on Tuesday, Sandisk rolled out a next-generation portable SSD portfolio pitched at bigger files and “AI developed content”. “support customers across their storage needs,” consumer marketing VP Heidi Arkinstall said, while another executive said the lineup can “move massive files blazing fast.” (Sandisk)
Tuesday also marked a year since Sandisk split from Western Digital. Western Digital CFO Kris Sennesael told MarketWatch the separation is “really working,” with both companies’ shares buoyed by AI-driven demand for memory and storage. (MarketWatch)
Western Digital has also been cashing out part of its remaining Sandisk stake. The company last week said it would raise $3.17 billion by selling part of its holding to cut debt, and would still own about 1.7 million Sandisk shares after the deal, a Reuters report showed. (Reuters)
But the trade cuts both ways. If flash pricing holds up and Sandisk can keep demand steady while managing supply, the stock’s volatility can punish shorts just as quickly as it hits late buyers.
The next test is talk. Sandisk management is due to appear at Bernstein’s TMT forum on Wednesday, Feb. 25, followed by Morgan Stanley’s TMT conference on March 3 and a Cantor technology conference on March 11, the company said. (Businesswire)
