On August 19, Tradr 2X Long SNDK Daily ETF rose 8.62% in pre-market trading, trading at $17.08/share, with turnover of $248 million. The ETF is a 2x leveraged long product on SanDisk, whose shares gained approximately 2%-3% in pre-market, with the leverage effect amplifying the move.

On the news front, SK Hynix announced plans to repurchase and cancel 40 trillion KRW worth of shares while pledging to return at least 50% of cash flow to shareholders, lifting the broader memory and storage sector. Simultaneously, JPMorgan maintained its Overweight rating and $2,250 target price on SanDisk, while Huaxing Capital also raised its target to $2,250.

The rebound follows a sharp decline of over 9% in SanDisk in the prior session, which created oversold recovery demand. The combination of the SK Hynix buyback catalyst, institutional price target affirmations, and technical rebound conditions drove the leveraged ETF sharply higher in pre-market trading.

(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.)