SanDisk Corp. (SNDK) has slipped into its deepest oversold reading since the tariff crash of April 2025.
The stock's 14-day relative strength index fell to 26.6 on Thursday, as shares dropped 12.8% to about $905 in early trading. The RSI compares the speed of recent gains and losses, and a reading under 30 marks a stock as oversold. The last lower reading came on April 4, 2025.
The slide has been steep. SanDisk is down about 34% this week and roughly 61% below its June 25 record close of $2,335. Even so, it is still up about 270% year to date.
Memory stocks have sold off since the Democrats' midterm wins, including in Texas. There, governor-elect Gina Hinojosa campaigned on a moratorium on new data centers. Fox Advisors downgraded SanDisk to Equal-Weight on Monday.
The iShares Semiconductor ETF (SOXX) is down 17.3% this week.
