SANDISK Stock: Jane Street Holds 5.47 Percent - Börse Express
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SanDisk is cutting jobs in Israel, while the memory manufacturer simultaneously sits on a multi-billion dollar order backlog. On Tuesday, it was announced that the company is laying off several dozen employees at its Kfar Sava development center to relocate the development of NVMe SSDs for cloud and AI servers to India. The site in Israel employs a total of around 700 people. The timing is noteworthy: According to media reports, SanDisk has an order volume of 93.9 billion dollars over several years. The relocation to India thus appears less like an emergency measure and more like a strategic cost optimization in view of strongly increasing demand for high-capacity NAND memory for AI data centers. Just over three weeks ago, the company reported a record quarter, and since then, the stock has gained 8.5 percent. The stock price remains unimpressed by the personnel news: On Tuesday, the paper closed at 1,270.00 Euro, a decrease of 1.6 percent compared to the previous day. Over the week, a decline of 5.9 percent has been recorded – a sign that investors are currently looking more at macroeconomic and competitive risks than at individual personnel decisions. Parallel to the site relocation, a report on the shareholder structure attracted attention: Jane Street Capital has disclosed a 5.47 percent stake in SanDisk. The trading firm thus holds 7.41 million shares worth...
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