SNDK
When the smart money hits the eject button
David Tepper’s Appaloosa filed a second-quarter 13F showing it sold every one of its 281,250 Sandisk shares. That’s a pretty clean exit — no toe in the water, no “we’ll just trim a little,” just gone.
The awkward timing
Here’s the part that makes this feel extra spicy: Sandisk hit its 52-week high of $2,354.39 on June 22, right in the middle of the quarter Tepper was heading for the exit. In other words, the stock was busy doing a victory lap while Appaloosa was quietly looking for the door.
Why investors should care
A 13F isn’t a crystal ball, but it does tell you how some of the biggest funds are positioning after the fact. When a heavyweight like Tepper walks away from a name that’s been rallying hard, it can make the market wonder whether the easy money has already been made.
Big picture: Sandisk still has its own fundamentals to prove out, but this filing is a reminder that even the hottest stocks can lose a little swagger when a famous bull stops cheering.