Direxion Daily Semiconductors Bull 3x Shares (SOXL) surged 5.03% intraday on Tuesday, driven by a broad rally in semiconductor stocks. The leveraged ETF, which aims to deliver three times the daily performance of the PHLX Semiconductor Sector Index, benefited from premarket gains in major chipmakers.
Intel rose 4%, AMD climbed 3%, while Navitas, Wolfspeed, and SanDisk also posted gains of 2% and 1%, respectively. The positive momentum in the semiconductor sector reflects renewed investor confidence in chip stocks, which is amplified by SOXL's leveraged structure.
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