Sandisk Trading Volume Surges 189.79% to $214 Million Ranking 453rd Despite Stock Price Drop

On June 5, 2025, Sandisk (SNDK) experienced a significant increase in trading volume, with a turnover of $214 million, marking an 189.79% rise from the previous day. This surge placed Sandisk at the 453rd position in terms of trading volume for the day. However, despite the high trading volume, Sandisk's stock price fell by 1.76%.

Sandisk has announced the launch of a secondary public offering of 17 million shares of its common stock. These shares are currently owned by Western Digital (WDC), Sandisk's former parent company. Sandisk itself is not selling any shares and will not receive any proceeds from the sale of these shares or from the debt-for-equity exchange. J.P. Morgan Securities LLC and BofA Securities are acting as the joint lead book-runners for the offering.

This secondary offering is part of a broader strategy by Western Digital to exchange certain indebtedness held by affiliates of J.P. Morgan Securities for Sandisk shares. The move is seen as a way for Western Digital to manage its debt and potentially strengthen its financial position. The offering is expected to close in the near future, subject to market conditions and other customary closing conditions.