Sandisk trims early losses and holds most of Monday’s rebound

Sandisk largely held onto Monday’s 5.5% rebound on Tuesday. Shares opened 2.5% below the previous close, then recovered to finish down just 0.42%, near the middle of the day’s trading range. That was a small closing move for the stock, with volume broadly normal at 6.4 million shares versus a typical 8.2 million.

The stock also held up better than related companies on the day. The median return among six related memory, storage and chip-equipment stocks was a decline of 1.3%, with four falling and two rising.

The longer view remains weak. Over the past 21 trading days, Sandisk has fallen 23%, compared with a 20% decline in the related-company median and a 0.67% drop in the S&P 500. Those figures put the stock’s losses in the context of a steep industry retreat, while showing that Sandisk has been hit somewhat harder. Tuesday’s relative strength follows a period of underperformance.