FTSE Russell added SanDisk Corporation (SNDK) to its preliminary Russell 1000 Growth Index. This reclassifies the memory chip maker from the Russell 1000 Value Index.
SanDisk stock has surged over 500% year-to-date. An AI-driven rally fueled this growth. Booming demand for NAND flash and enterprise data center storage drove the gains.
SanDisk shares rose 3% in overnight and premarket trading. This movement occurred ahead of the Tuesday session.
Analysts state the shift will force asset reallocations by index-tracking funds. Some retail investors remain cautious about late-cycle momentum risks.