Why Sandisk Stock Dropped Again Today
Sandisk (NASDAQ: SNDK) stock slid 7.3% through 3:05 p.m. ET Wednesday after Argus Research initiated coverage of the computer memory stock with a lukewarm "hold" rating in the midst of widening worries about the durability of demand for pricey computer memory chips.
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In Argus's note, covered on TheFly.com today, the analyst admits Sandisk is "well-positioned ... in NAND flash solutions." This is hardly new information, however, and investors have already rewarded Sandisk for its leading position with a more than 4,000% increase in share price this year.
Source Fool.com
