Sandisk Closes at $937.46, Down 4.11 Percent, Ahead of 8-for-1 Split

Sandisk (SNDK) closed Thursday at $937.46, down $40.23 or 4.11 percent, after Nvidia announced that Jensen Huang had resigned as chief executive, according to StockAnalysis and MarketBeat. Split-adjusted, that is about $117.18 a share. The close came one week before split-adjusted trading begins on 20 November.

The decline was part of a broad pullback. Nvidia said on 12 November that Huang had stepped down as president, chief executive and director, effective immediately, and named finance chief Colette Kress interim CEO. Investors cut exposure to AI hardware names across the board. 24/7 Wall St. reported that Sandisk, Micron and SK Hynix all slid about 3 percent early in the session.

How far did the stock fall on Thursday?

The numbers show a sharp drop and a partial recovery.

• Open: $886.85, with a low of $869.49 (Gotrade)
• Early print: down 7.83 percent at $901.17, per GuruFocus
• Close: $937.46, against Wednesday's $977.69
• Recovery: almost 8 percent from the low to the close

The close held above Tuesday's $859.99 and well above last week's $806.43 low. But the recovery kept only part of Wednesday's 13.7 percent rally, which followed CoreWeave's results in a chip-wide move, according to Investing.com.

The link to Nvidia is direct, as The Motley Fool noted. Sandisk sells a large part of its flash storage into data centres, where it sits alongside Nvidia GPUs in AI systems. Any doubt about Nvidia's spending plans reaches the memory makers quickly. Micron fell less, at 1.59 percent.

The recent record is worse still. On 5 November the stock fell 22.26 percent, from $1,037.40 to $806.43, per Investing.com historical data. The intraday record of $2,354.39 came on 22 June 2026, leaving the stock roughly 60 percent below it, according to StockAnalysis.

What does the 8-for-1 split change?

Holders on the 9 November record date receive seven extra shares for each one they own, under terms set out in Sandisk's 8-K and tracked by Yahoo Finance. New shares are distributed after the close on 19 November. Split-adjusted trading starts Friday 20 November.

Nothing about the value of a holding changes. Every per-share figure divides by eight, including prices, earnings per share and analyst targets.

Level	Pre-split	Split-adjusted
Thursday close	$937.46	$117.18
Thursday low	$869.49	$108.69
4 November close	$1,037.40	$129.68
JPMorgan target	$2,250	$281.25

What do analysts expect?

JPMorgan's Harlan Sur has an Overweight rating and a $2,250 target, or $281.25 after the split, according to Benzinga. Wells Fargo cut its target to $1,300 from $1,550, and RBC to $1,400 from $1,600. Melius Research holds the Street-high $3,600, per Benzinga and The Motley Fool. MarketBeat puts the consensus at $2,056.23.

Every target sits above the current price. That is worth noting, not celebrating. These are 12-month views on the business, not forecasts for the next few sessions, and the October results report triggered a 13 percent drop of its own.

Where are the trading levels?

Reference levels measured from Thursday's close, not forecasts:

• Bear, $869 ($108.69 adjusted): the Nvidia leadership story weighs on AI hardware again and Thursday's low gives way, about 7.3 percent below the close.
• Base, $900-$980 ($112.50-$122.50): the stock holds between Thursday's early levels and Wednesday's close into the split.
• Bull, $1,037 ($129.68): Nvidia's 17 November results ease the leadership worry and memory names extend the rebound, about 10.7 percent above the close.

What comes next?

The diary is short and specific. The US open follows the October producer price index at 13:30 GMT. Nvidia reports on 17 November, its first report under interim CEO Kress. New split shares go out after the close on 19 November, with split-adjusted trading from the 20th. Thursday's $869.49 low is the first level below, and whether Nvidia's results calm the AI hardware trade will decide whether $1,037 comes back into reach.