Why $SNDK dropping? Agree with thesis: All good news priced in. Industry cooling + token liquidity vacuum. 1. Earnings beat but vs “very high expectations” → sell the news. Classic buy rumor/sell fact. 2. Storage cooling: Kioxia warned NAND flash price surge slowing → sector-wide repricing, not just SNDK. 3. Synthetic token illiquidity: shallow on-chain depth, zero liquidity when US closed → small spot dip = token hammered into pit. Conclusion: Fundamentals not rotten.