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On February 24, renowned short-selling entity Citron Capital took to social media to announce its short position on SanDisk (SNDK), asserting that a fundamental flaw exists in the market's pricing rationale for the company. According to Citron, the current perceived supply shortage in the memory chip sector is merely an "illusion," and the industry cycle is on the verge of reaching its zenith. This announcement triggered a sharp decline in SanDisk's stock price during intraday trading, with shares plummeting nearly 8% at one juncture before ultimately closing 4.2% lower. Citron's rationale for shorting SanDisk encompasses several key factors: escalating competition from Samsung, a reduction in holdings by SanDisk's long-standing investor Western Digital, and historical trends suggesting the impending conclusion of the industry cycle.
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