SanDisk stock, live, after the split from Western Digital

Signals, right now

A recently separated company prices differently

SanDisk is the flash-memory business separated out of Western Digital, which kept the hard-drive side. A newly independent listing has a short trading history, an unsettled shareholder base and index funds still adjusting their weights, and all three widen the spread and raise realised volatility for reasons that have nothing to do with the business. The cost-to-cross figure above is the one to watch: on a name like this it is often several times what a long-established large cap costs.

NAND is the more brutal half of memory

Flash has historically run thinner margins and deeper troughs than DRAM, because the capacity additions are lumpier and the substitution pressure from cheaper media is constant. That means the same memory-cycle news can move SNDK further than it moves a diversified memory maker. Compare the seven-day change here against MU on the same day and the difference is the leverage you are taking.

This is not the exchange last trade

A perpetual has no expiry, settles in cash, and gives you no share, no vote and no dividend. It trades continuously, so it differs from the official close whenever news lands outside market hours. For the official price use the exchange or a broker. The basis figure above is the honest measure of the gap between this contract and the venue's own reference.

The part we cannot verify

Pacifica publishes the symbol, the book and hourly candles. It does not publish how the SNDK reference price is derived, nor its funding interval, so the funding figure above is per interval and not annualised. Read the venue's terms before trading it.