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Citigroup sharply raises SanDisk target price by over 50%, a whale goes long on the news and now has an unrealized profit of $440k.
ME News, May 20 (UTC+8): According to Hyperinsight monitoring, Wall Street financial giant Citigroup has taken a high-profile bullish stance on storage and has significantly raised SanDisk (SNDK)’s target price by over 50%, setting the new target price at $2025. SNDK closed up 3.77% today; at the current price, it still has 46.4% upside to its new target price. Meanwhile, it also raised Micron’s target price to $840, with MU previously closing up 2.52%.
After the news first appeared in the media yesterday, a whale on Hyperliquid immediately opened positions in tandem in the two leaders of the storage sector: MU (Micron) and SNDK (SanDisk). The total position size is approximately $10 million. As of press time, it has recorded an unrealized profit of $447k (+12.3%). The specific holdings are as follows:
MU long position (10x leverage): holding 7,714.3 units (approximately $5.5 million), with an average entry price of $687.5;
SNDK long position (10x leverage): holding 7,714.3 units (approximately $4.55 million), with an average entry price of $1,319.4.
Address: 0x3ed4033676d0bdb3938728ca4ac673d00e74bd06 (Source: BlockBeats)