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Preparing video
Key Points:
Record June volumes on Stake driven by Space IPO and AI enthusiasm Micron ($MU) positioned as key high bandwidth memory winner with strong dip‑buying SanDisk ($WDC) seeing rising profit taking after a ~500% rally
June trading on Stake surges, with memory chip names firmly in focus, according to Samy Sriram from Stake. Sriram states June is a record month for the platform, heavily driven by the Space IPO and ongoing enthusiasm for the AI theme. Space continues to account for around 30% of all trades on Stake, with investors reportedly balancing optimism on AI with caution around macro signals and earnings.
Sriram highlights Micron ($MU) as the standout memory trade, describing it as roughly a 70% net buy on the platform in June despite volatility and a recent class action lawsuit alleging price manipulation alongside SK Hynix and Samsung. In Sriram’s view, Micron’s high bandwidth memory is effectively sold out through 2026 and still only meets about half to two‑thirds of AI demand. Sriram points to Micron’s margin expansion and characterises it as the “new margin king”, with investors consistently buying dips.
SanDisk ($WDC) is portrayed as a different story. Sriram notes the S&P 500 leader is up about 500% year to date, with the buy ratio falling from around 88% in January to a sell ratio nearing 47%, suggesting profit taking. Attention is also turning to SK Hynix’s planned Nasdaq ADR, which Sriram expects could unlock US AI‑focused capital and potentially shift flows from the Roundhill Memory ETF.
