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Why Did Sandisk Stock Pop Today?

TheMotleyFool

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Sandisk (NASDAQ: SNDK) stock jumped 5.8% through 10:15 a.m. Friday -- and for a most curious reason.

In a filing with the SEC yesterday, Western Digital (NASDAQ: WDC) confirmed it is "exchanging" 1,038,681 shares of Sandisk stock for shares of Western Digital currently held by "certain institutional investors."

This is curious because... investors in both semiconductor companies appear to think they're getting the better deal. Not only is Sandisk stock up 5.8%, but Western Digital stock is up 6.5%!

Source Fool.com

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