TradingKey – SanDisk’s stock price has plunged 15% in the last 5 days and could fall further, potentially testing the key $1,000 round-number mark again under extreme scenarios.

On October 16 Eastern Time, SanDisk (SNDK) continued its relentless decline, falling more than 2% in pre-market trading to temporarily report at $1,359.48. Over the past five trading days, SanDisk’s stock has dropped a cumulative 15%, hitting a low of $1,276.

At the end of September, SanDisk’s stock price touched $1,900, attracting a large concentration of leveraged long positions chasing highs in the derivatives market. Lacking further positive catalysts, investors began taking profits or unwinding positions, triggering a pullback in the stock price once it broke…