Sandisk (SNDK) Stock Selloff
Sandisk (NASDAQ: SNDK) is selling of today with news out that Intel (INTC) and Micron (MU) are teaming up to form a joint venture called IM Flash Technologies. IM Flash is expected to take a bite out of Sandisk's business. If you are a Sandisk shareholder you are down about 15-16% today. You have to give Jim Cramer props because I know he became bearish on Sandisk when it was around $60-$62. Now the stock is in the $46-47. I don't know enough about the flash memory business to tell you to buy or sell the stock but I have limited my technology exposure in 2005.