Sandisk Corp. (NASDAQ:SNDK) stock fell about 4% Thursday as investors pulled back from technology and other growth stocks.
35%. Cramer Flags ‘Gigantic’ Call BuyingDuring CNBC’s “Mad Dash” on Thursday, Cramer said a series of “gigantic call buys” appeared Friday across Sandisk, Bloom Energy Corp.
(NYSE:BE), Intel, CoreWeave Inc. (NASDAQ:CRWV), Micron Technology Inc.
(NASDAQ:MU), SK hynix Inc. (NASDAQ:SKHY) and Advanced Micro Devices Inc.
Cramer said the stocks have something notable in common. “What do these all have in common?
They’re the Leopold Situational Awareness names,” Cramer said. “A lot of people are speculating that he’s back,” Cramer said.
Despite highlighting the unusual activity, Cramer warned investors against chasing the stocks during Thursday’s market weakness. “You don’t want to be in them today,” he said.
See More: Top Growth Stocks Technical AnalysisDespite Thursday’s decline, Sandisk remains in a strong longer-term uptrend. 93.
The 20-day SMA remains above the 50-day SMA. Meanwhile, the 50-day SMA is above the 200-day SMA.
Momentum also remains constructive. The MACD is above its signal line, while the histogram is positive.
50. Mizuho maintained an Outperform rating on Aug.
25 but lowered its price forecast to $1,875. RBC Capital raised its forecast to $1,600 with a Sector Perform rating on Aug.
14. ETF ExposureSandisk has significant weightings in several ETFs.
95% weighting.
