SanDisk Shares Up 2,500% in Year, Joins Nasdaq-100

SanDisk Corporation's stock has rocketed more than 2,500 percent over the past year, reaching around $851 per share as of Friday, fueled by surging demand for its NAND flash memory products amid the artificial intelligence boom. The company's shares, which closed at $851.77, sit just below their 52-week high of $855 and reflect a year-to-date gain exceeding 250 percent in 2026.

The latest catalyst came late Friday when Nasdaq announced that SanDisk will join the Nasdaq-100 index on April 20, 2026, replacing Atlassian. This addition to the benchmark, which tracks the 100 largest nonfinancial companies on the exchange, is expected to prompt automatic purchases from index-tracking funds. Those funds, including the Invesco QQQ Trust, manage over $600 billion in assets globally and often provide short-term price support through passive inflows. Atlassian, a software-as-a-service provider, faces corresponding selling pressure as the index shifts toward hardware and infrastructure firms. The change follows the current Nasdaq-100 selection methodology, effective through April 30, 2026, with analysts anticipating adjustments to index weightings ahead of the implementation.