SanDisk Soars Nearly 26% for Largest Single-Day Gain Since January, But July May Still Mark Worst Month on Record

The Barron's reported that market conditions are ever-changing, with SanDisk (SNDK-US) being the latest example.

The memory storage company's stock surged 25.99% on Thursday (30th), closing at $1,279.96. It was the top performer in the S&P 500 index that day and marked the largest single-day gain since January 6.

Chip stocks rebounded collectively on Thursday, with the tech-heavy Nasdaq Composite Index rising 2.78%.

For SanDisk, this rebound stands in sharp contrast to its prior decline. The stock had fallen for four consecutive trading days before Thursday, becoming a representative example among AI-related stocks undergoing significant correction in July.

The market believes that Samsung Electronics' better-than-expected earnings report, along with management's statement that memory supply shortages will persist until 2028, may have supported SanDisk's stock price.

Nevertheless, according to Dow Jones market data, SanDisk is still down 45% for the month of July and may still record the worst monthly performance in its history.

Moreover, SanDisk's stock price has retreated 46% from its all-time high of $2,335 reached on June 25.

However, viewed over a longer timeframe, the recent downturn represents only a small portion of its previous extraordinary gains.

To date, SanDisk has risen 439% since 2026 and surged 2,849% over the past 12 months.