SanDisk (SNDK) NewsBite - Semiconductor Worries Pull Down SNDK

Posted: Thursday, November 19, 2009 11:25 AM EDT

SanDisk (NasdaqNM: SNDK) opened at $20.84. So far today, the stock has hit a low of $20.16 and a high of $20.87. SNDK is now trading at $20.12, down $1.04 (-4.91%). Over the last 52 weeks the stock has ranged from a low of $5.07 to a high of $24.61. SNDK shares are falling with other tech stocks after an analyst at Merrill Lynch warned that semiconductor inventory levels may soon exceed demand, triggering a selloff in the tech sector. Technical indicators for the stock are neutral and S&P gives SNDK a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SNDK the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 24 range. [ABR-Seven Summits Strategic Investments NewsBite]

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