Citron Shorts SNDK: Memory "Super-Cycle" Just a Supply Mirage?
SanDisk saw its stock skyrocket over 120% YTD. Citron’s bear case rests on three pillars: Samsung is aggressively encroaching on the high-end SSD market to reclaim margins; Western Digital recently offloaded SNDK shares at a 25% discount; and the current NAND shortage is merely a "temporary mirage" caused by yield issues at rival fabs. Will Samsung’s production ramp-up turn SNDK’s record gross margins into a "race to the bottom" by H2 2026?Is "insider sell" a warning signal or not?