Stock Track | Direxion Daily Semiconductors Bear 3x Shares (SOXS) Plummets 7.82% as Chip Stocks Rally

Stock Track01-05

Direxion Daily Semiconductors Bear 3x Shares (SOXS) fell sharply by 7.82% during the intraday session on Monday, reflecting a broader rally in semiconductor stocks.

The decline in SOXS, a bearish ETF designed to deliver 3x inverse daily performance of the semiconductor sector, was driven by strong gains in chip stocks. Key players like ASML, ARM, Applied Digital, Marvell, Intel, AMD, and TSMC all posted significant increases, with the bullish semiconductor ETF SOXL rising 6%.

This inverse relationship between SOXS and the semiconductor sector explains the sharp drop in the bearish ETF's price as traders reacted to the sector's bullish momentum.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment