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SanDisk Corp. (SNDK) Dropped To Over A 5-Month Low On Q1 Forecast

SanDisk Corp. (SNDK: Quote) announced after the bell Tuesday that it now estimates total revenue for the first quarter will be approximately $1.2 billion, down from the previously forecasted range of $1.30 billion to $1.35 billion.

SanDisk Corp. gapped open sharply lower Wednesday and drifted lower during the second half of the session. The stock closed down by 5.54 at $44.51 on strong volume. SanDisk dropped to a 5 1/2 month low and fell below both its 50 and 200-day moving averages.

by RTT Staff Writer

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