Trader Loracle at Mizuho Securities hit the top on the SNDK "Buy" target price, opening an $8 million short position.

BlockBeats News, May 11th, according to Hyperinsight monitoring, prominent trader "Loracle" on Hyperliquid opened a 10x leveraged short position on SNDK in the early morning today and significantly increased the position during a short-term price surge at 8:00 am, with an average price of $1622. The position size is $8 million, currently with an unrealized gain of $96,000 (approx. 10% ROI), making him the second-largest short position holder for SNDK on the platform.

It is reported that SNDK has surged over 300% year-to-date, hitting multiple historical highs recently. Loracle's shorting average price of $1622 is close to the buy target price of $1625 set by Mizuho Securities analyst Vijay Rakesh since the upgrade on May 7th.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae