TradingKey – At Thursday’s close (November 5) Eastern Time, SanDisk (SNDK) shares tumbled 22.26% to close at $806.43, having touched an intraday low of $803.97, with trading volume rising to approximately 30 million shares, more than triple its 20-day average volume. Over the past week, the stock has dropped nearly 40% cumulatively, retreating about 66% from its all-time high of $2,354.39 in June, as its recent correction widened further.

Thursday’s sharp decline in SanDisk was linked to broad-based weakness across the AI and storage sectors. Following the release of the U.S. midterm election results, the market began focusing on the risks of potentially tighter regulations on AI data center construction, power usage, and regulatory…