SNXX is trading 3.4% lower in after-hours trading after a 17.84% regular-session drop to $15.66, with its 2x daily exposure to Sandisk (SNDK) amplifying weakness in semiconductor and technology shares.
- The broader selloff followed fading U.S.-Iran ceasefire prospects, oil above $90, and the 30-year Treasury yield reaching its highest level since 2007, pressuring rate-sensitive growth stocks.
- No separate Sandisk-specific late-breaking announcement or earnings catalyst was identified; the move appears primarily tied to broad semiconductor risk-off trading and leveraged positioning.