SanDisk Corp. (NASDAQ:SNDK) is Monday’s worst-performing stock in the Russell 1000, tumbling 12% and extending its decline to more than 45% from June’s record high.

The sell-off follows Friday’s 10.8% drop as investors grow increasingly concerned that Chinese memory makers could intensify competition in the NAND market.

The latest catalyst was ChangXin Memory Technologies’ blockbuster Shanghai IPO, which renewed fears that Beijing’s push into memory chips could pressure industry pricing.

Monday’s slide also pushed SanDisk below its 100-day moving average for the first time since August 2025.

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