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Summary
Sandisk (SNDK) closed at $937.46 on November 12, 2026, down 4.11%, while the Nasdaq Composite slipped 0.39%.
Financial media tied the drop to investors cutting AI hardware exposure after Nvidia announced that Jensen Huang had resigned as CEO.
Benzinga noted that Sandisk's role in AI data center storage leaves the stock exposed to AI hardware sentiment and data center spending.
Gotrade News - In the latest Sandisk stock news, Sandisk (SNDK) closed at $937.46 on Thursday, November 12, 2026, down $40.23, or 4.11%, in the US session. Financial media tied the drop in Sandisk stock to investors trimming exposure to AI hardware names after Nvidia announced that Jensen Huang had resigned as its chief executive.
SNDK Trading Data
Data
Value
Closing price
$937.46
Change
-$40.23 (-4.11%)
Previous close
$977.69
Open
$887.40
Day range
$869.46 to $953.20
Volume
13.3 million shares
30-day average volume
10.5 million shares
52-week range
$183.00 to $2,354.39
Regular-session close on Thursday, November 12, 2026, 4:00 p.m. New York time. Stock prices: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Volume and 30-day average volume: Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 13, 2025. Indices: Yahoo Finance daily closes for the same date.
Sandisk opened at $887.40, well below Wednesday's close, and spent the rest of the day climbing back from that gap. It finished $68.00 above its intraday low but short of the session high. Trading was busier than usual, with volume running 26.62% above the average.
The decline was far steeper than the broader market. The Nasdaq Composite slipped 0.39% to 25,366.09, the S&P 500 fell 0.35% to 7,592.40 and the Dow Jones Industrial Average lost 0.36% to 52,297.09, leaving Sandisk 3.72 percentage points behind the Nasdaq. Nvidia (NVDA) dropped 4.34% to $166.19, while memory peer Micron (MU) eased 1.59% to $798.44.
Even after the drop, the stock stands 412.27% above its 52-week low, while it remains 60.18% below its 52-week high.
According to Nvidia's November 12 release, filed with the SEC, Jensen Huang stepped down as president, chief executive officer and a member of the board, effective immediately. Chief financial officer Colette Kress became interim CEO while keeping her CFO role, and Harvey C.
Jones was named the board's first chair. Nvidia said it expects operations, customer commitments and its product roadmap to continue without interruption, and that it will still report third-quarter fiscal 2027 results on November 17.
As reported by Benzinga, Sandisk fell as investors cut exposure to AI-linked hardware stocks following the leadership change at Nvidia and a softer broader market.
The outlet noted that Sandisk supplies enterprise NAND flash memory and solid-state drives that store and deliver large datasets for AI processors, while Nvidia makes the GPUs that run those workloads, which leaves the stock exposed to shifts in AI hardware sentiment and data center spending.
According to The Motley Fool, Sandisk's fiscal first-quarter 2027 adjusted earnings per share came in at $49.51, above its $44 to $46 guidance range and up from $1.22 a year earlier.
The company guided fiscal second-quarter 2027 adjusted earnings per share of $55 to $57 on a pre-split basis, The Motley Fool reported.
Nvidia said it expects customer commitments and its product roadmap to continue without interruption while its board searches for a permanent CEO.
Risks
Nvidia's leadership question is still open: Kress serves as interim CEO until the board names a permanent successor from internal and external candidates, per Nvidia's release.
The Motley Fool flagged that profits could fall quickly if flash memory prices reverse, and GuruFocus called NAND pricing in Sandisk's next quarterly report the next test.
The Motley Fool also pointed out that guidance increases are slowing, with the midpoint rising about 43% for fiscal Q1 and about 24% for fiscal Q2.
Next on the calendar, Sandisk's eight-for-one stock split gives holders of record on November 9 seven additional shares per share after the close on November 19, with split-adjusted trading expected to begin November 20, according to GuruFocus, citing the company's 8-K filing.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
Hendrie Saputra holds a Master of Business Administration (MBA) with a concentration in Business Risk & Finance, along with professional experience in finance, marketing, and project management. He is experienced in analyzing market data and developing research-driven business strategies.
