Trader 'Loracle' Opens $8M Short on SNDK Near Mizuho's Buy Target

2026-05-11 13:42

Renowned trader "Loracle" has opened a significant short position on SNDK, leveraging 10x on the Hyperliquid platform. The position, valued at $8 million, was initiated with an average entry price of $1,622, closely aligning with Mizuho Securities' buy target of $1,625 set by analyst Vijay Rakesh. Loracle's strategic move comes amid SNDK's impressive year-to-date surge of over 300% and recent all-time highs. The position currently shows a paper profit of $96,000, marking a 10% return, and ranks Loracle as the second-largest short holder of SNDK on the platform.

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