Stock Track | Direxion Daily MU Bull 2X Shares Plunges 5.50% on Broadcom Earnings Disappointment and Semiconductor Sector Selloff

Stock Track08:03

Direxion Daily MU Bull 2X Shares (MUU) experienced a 24-hour plunge of 5.50% on Thursday, reflecting amplified losses in the leveraged exchange-traded fund that tracks Micron Technology.

The decline was driven primarily by a broad semiconductor sector selloff triggered by Broadcom's quarterly earnings report. Broadcom delivered strong results but declined to raise its fiscal year 2027 AI revenue guidance beyond the previously stated target, disappointing investors and causing its shares to fall over 12% during the regular session. This sparked a retreat across AI-related chip stocks.

As a 2x leveraged product designed to deliver twice the daily performance of Micron Technology, MUU amplified the downside movement as its underlying asset declined. Micron Technology, which had experienced a historic rally and was in technically overbought territory, faced significant selling pressure amid the sector-wide weakness, with profit-taking contributing to the correction.

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