On July 29, Tradr 2X Long SNDK Daily ETF fell 15.55% in pre-market trading, trading at $7.61/share, with turnover of $51.95 million. The leveraged ETF continued its steep multi-day decline as underlying SanDisk shares remained under persistent selling pressure.

The ETF is a 2X daily leveraged long product tracking SanDisk. SanDisk plunged over 9% on July 24, with the Philadelphia Semiconductor Index falling 4% the same day, placing broad pressure on the storage sector. Subsequent rebound attempts failed repeatedly, with concentrated profit-taking driving further losses. The ETF had already dropped 9.81% on July 27, followed by an 18.59% intraday decline on July 28, establishing a pattern of accelerating losses through the leverage mechanism.

On the analyst front, Susquehanna previously cut its SanDisk price target from $3,250 to $3,050, reinforcing negative short-term sentiment. With the underlying stock unable to find sustained support and the compounding nature of daily leveraged rebalancing, the ETF has experienced amplified downside volatility across consecutive sessions.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)