SanDisk Getting Crushed On Heavy Volume (SNDK)

Shares of SanDisk

are getting crushed today. The stock has fallen 5.38% on heavier than normal volume. More than 12 million shares have already traded hands compared to a daily average of around 11 million. The chart in SNDK is starting to look increasingly bearish after a big run in 2010. Year-to-date, the stock has gained 33%. After creating a consolidation pattern for much of the summer, SNDK now looks like it is breaking down. The stock trades at a trailing P/E of 8.55, a forward P/E of 9.33, and a PEG ratio of just 0.68. The company has a market cap of $8.97 billion. SanDisk Corporation (

) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. Is SNDK a Buy, Sell or Hold? Click