Storage Stocks Continue Upward Trend, Impacting Short Positions

Storage concept stocks extended their gains on March 18, with SanDisk (SNDK) rising by 3.6% and Micron Technology (MU) increasing by 2.7%. According to BlockBeats, this upward trend has influenced the contracts on Hyperliquid, where SNDK is currently priced at $748.6 and MU at $474.9. The continued strength in this sector has put pressure on short positions, particularly affecting the largest on-chain short address, 'Crypto KOL CBB' (0xefd), which holds a total position size of approximately $12.9 million. Both short positions are currently experiencing floating losses totaling around $1.4 million. The specific holdings include a 3x short position on SNDK with a position size of $7.8 million at an average price of $679.4, resulting in a floating loss of $71.2 (-26.5%). Additionally, there is a 3x short position on MU with a position size of $5.11 million at an average price of $410.7, leading to a floating loss of $69 (-38.7%).