SanDisk Said To Explore Sale

Every time this company comes to mind, I’m reminded of the Wall Street Warriors episode where a couple of hot-shot brokers concentrate a butt load of client money into an SNDK earnings gamble.

I just spent like 10 minutes looking for the clip.  It was a painful ten minutes, but ultimately I failed to produce the video showing these jokers in action.  I digress.

The sleuths over at Bloomberg reported that SanDisk is working with financial advisors (?) because they want to prepare to sell their company.  Shares in the company have been on a death march this year, down about 35% as of today’s close.

The stock was up about 15% afterhours on the rumor.  Normally I couldn’t care less about this event, but considering the sensitive location of the PHLX Semiconductor index (SNDK is a component) I have to wonder if the top-end of range is at risk of being breached—throwing a wrench in this week’s short bias.

As always, TBD.