The need for more memory evident in every company's earnings report makes the market's negative view of Sandisk hard to understand. Yet splitting a stock above $1,000 is one of the dumbest moves a company can make: it hands market makers the ability to manipulate the shares through options, a risk for Sandisk. x.com  x.com 

Leveraged single-stock ETFs on Micron and SanDisk can't be held for long because decay keeps them from matching the underlying stocks' highs. When Micron and SanDisk next reach all-time highs, those ETFs won't, and the longer that takes, the further below they will be. Holders who tried to ride the wave with them are getting smoked; they shouldn't be held for more than a few days. x.com 

SanDisk and Micron are in monster stock mode and probably nowhere near a top. SanDisk shows no volume acceleration yet, and the split of a leveraged SanDisk ETF next week could nudge SanDisk toward its own stock split, helping it accelerate higher. CNBC talking about crashes while these leaders surge is a super bullish sign that the run continues. x.com  x.com  x.com 

Direxion's 3x semiconductor bear ETF is built to bleed holders through volatility decay, needing 10 reverse splits since 2010 just to keep its price in a tradable range. x.com 

Leveraged ETFs such as the 3x semiconductor bull fund should never be owned: it lost a third of its value in a single-day crash while individual chip stocks fell only 5%-10%. x.com 

3x leveraged ETFs like the ProShares UltraPro QQQ and Direxion Semiconductor Bull 3x are not foolproof long-term holdings and would suffer badly in a dot-com or GFC-style decline. They target 3x daily returns, and the daily leverage reset compounds losses in volatile periods. The Nasdaq one launched in 2010 at the start of a ZIRP bull market; backtested to the late 1990s it would still be underwater. A 2x software ETF holding Adobe, Microsoft and Salesforce was discontinued this April. x.com 

SanDisk's share price has run beyond the reach of most investors. With no circuit breaker in place, the rally looks like a retail trap, with momentum chasers buying near $1,500 likely to get hurt. x.com  x.com 

SOXL holders hoping the bull run resumes more slowly misunderstand leveraged ETFs, which move fast in both directions. US leveraged semiconductor ETF assets went from $14B to $163B in three years and now sit at $100B, a 39% drawdown. Even after that, assets remain seven times where the trade started, so the bubble has not popped, only exhaled, and those trapped in 3x products face more of the same. x.com 

SanDisk looks quite cheap despite its huge run, because single-digit forward earnings multiples ignore growth of around 100% a year expected over the next two years. A screen for US companies above $10 billion with forward P/Es under 10 and 25%-plus two-year revenue growth yields just seven names, including SanDisk and Micron. Both are cyclical and may not deserve 30–40x forward multiples, but assigning either a single-digit P/E is crazy. x.com  x.com 

TSLL fails to deliver 2x Tesla's return in every positive-return scenario at Tesla's historical volatility. The fund's prospectus table, mapping stock return against volatility over one year, shows that at Tesla's 67% five-year volatility a 60% gain in Tesla yields just 45.9% from the fund, not the 120% investors expect. Across those combinations, holders should expect less than 2x roughly 58% of the time, getting the leverage when they least want it. x.com