CAUTION AGAINST SHORTING SNDK ( SANDISK )
As our readers know, we have been very negative on SNDK and have made money shorting it.
Today stock dropped $1.79 following cautious comments by Citi. Citi’s comments today are similar to our concerns provided to you long before Citi. It appears that there was fair amount of short selling in the shares today.
We caution against shorting these shares now. The reason is that we are atthe cusp of a big change– pervasive use of solid state drives is coming sooner than most market participants think. SNDK is a natural acquisition target for its partner Toshiba. Disk drive makers such as Seagate and Western Digital have been rumored to be looking at buying SNDK.… Please click here or the title below to read more.
August 18, 2008