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Summary
Sandisk (SNDK) fell 22.26% to close at $806.43 on November 5, 2026, a far steeper drop than the Nasdaq Composite's 5.52% decline.
Financial media tied the selloff in AI and chip stocks to fears that stricter regulation after the Democrats' midterm sweep could slow data center construction.
The drop came a week after Sandisk reported fiscal first-quarter revenue of $11.0 billion, up 23% sequentially, and ahead of its eight-for-one stock split on November 19.
Gotrade News - In the latest Sandisk stock news, shares of Sandisk (SNDK) fell 22.26% to close at $806.43 on Thursday, November 5, 2026, in a US session that ended at 4:00 p.m. New York time. The drop in Sandisk stock came as financial media tied a broad selloff in AI and chip stocks to fears that stricter regulation after the Democrats' midterm sweep could slow data center construction.
SNDK Trading Data
Data
Value
Closing price
$806.43
Change
-$230.97 (-22.26%)
Previous close
$1,037.40
Open
$962.25
Day range
$803.97 to $967.99
Volume
30.7 million shares
30-day average volume
8.5 million shares
52-week range
$183.00 to $2,354.39
Market cap
$114.7 billion
Regular-session close on Thursday, November 5, 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 6, 2025. Indices and the 10-year Treasury yield: Yahoo Finance daily closes for the same date.
Sandisk opened at $962.25, already below Wednesday's close, and never traded far above that level, with a day high of $967.99. Selling pressure held through the session, and the stock closed just $2.46 above the day's low of $803.97, finishing near its weakest point.
Trading was heavy. Volume reached 30.7 million shares, 260.33% above its average of 8.5 million shares.
The move was far steeper than the broader market. The Nasdaq Composite fell 5.52% to 24,315.00, the S&P 500 lost 4.36% to 7,353.73 and the Dow Jones Industrial Average dropped 3.44% to 51,523.06, leaving Sandisk 16.74 percentage points behind the Nasdaq. The US 10-year Treasury yield fell 5.7 basis points to 4.84% in the same session.
Memory and chip peers also fell hard. Micron (MU) dropped 17.46% to $656.39, Advanced Micro Devices (AMD) fell 17.26% to $404.40 and Nvidia (NVDA) lost 9.26% to $181.60. At the close, Sandisk sat 65.75% below its 52-week high of $2,354.39 and 340.67% above its 52-week low of $183.00.
Why Sandisk Stock Fell
Financial media did not tie the drop to company-specific news; they linked it to a sector-wide selloff in chip and AI stocks. According to Yahoo Finance, chip stocks fell on Thursday, extending declines from the prior session, "amid the threat that stricter regulation could slow data center construction." The same report said Sandisk's slide extended a 7% decline in the prior session.
As reported by TheStreet, investors worried about the future of data center expansion after Democrats swept both chambers of Congress and won key gubernatorial races in Tuesday's midterm elections, raising fears that tighter oversight could slow AI data center construction.
The selloff came a week after Sandisk's latest earnings report. According to the company's October 29 release, fiscal first-quarter 2027 revenue was $11.0 billion, up 23% sequentially, with non-GAAP diluted earnings of $49.51 per share. TheStreet reported that both figures topped analyst estimates of $10.70 billion in revenue and $46.41 per share.
SNDK Stock Analysis: Supporting Factors and Risks
Supporting Factors
Datacenter revenue reached $4,802 million in fiscal Q1, up 61% from the previous quarter, according to the company's release.
Sandisk guided for fiscal second-quarter 2027 revenue of $12.2 billion to $12.6 billion and non-GAAP earnings of $55.00 to $57.00 per share on a pre-split basis, per the same release.
The company returned $5.0 billion to stockholders by repurchasing approximately 3.2 million shares during the quarter, the release said.
Risks
Financial media linked the selloff to fears that stricter regulation could slow AI data center construction, while TheStreet noted that AI demand for storage has been pushing NAND prices higher, lifting Sandisk's revenue and margins.
Pressure spread across memory makers, with Yahoo Finance reporting declines at Micron, SK Hynix and Samsung Electronics alongside Sandisk.
Yahoo Finance noted that semiconductor stocks have been volatile since the summer, and Sandisk closed 65.75% below its 52-week high.
Sandisk's eight-for-one forward stock split takes effect on November 19, 2026, according to the company's release, which said the split is meant to make the stock more accessible, including to employees.
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.
