Stock Track | GraniteShares 2x Long COIN ETF Skyrockets 45% as Crypto Stocks Soar on Trump Win

Stock Track11-12

The GraniteShares 2x Long COIN Daily ETF (CONL), which provides leveraged exposure to Coinbase Global stock, skyrocketed by an astonishing 44.88% on November 11th, 2024. This massive surge came as part of a broader market rally fueled by Donald Trump's victory in the 2024 presidential election and the Federal Reserve's latest interest rate cut.

The stock market witnessed its best week of 2024, with the S&P 500 and Dow Jones Industrial Average both climbing around 4.7%. The tech-heavy Nasdaq Composite Index topped 19,000 for the first time post-election, while the small-cap Russell 2000 Index soared more than 8%.

Investors are betting that Trump's market-friendly policies, including corporate tax cuts, deregulation, and efforts to bring manufacturing back to the U.S., will provide a significant boost to the economy and drive stocks higher. The cryptocurrency market also rallied strongly, with Bitcoin topping $80,000 for the first time, as Trump embraced digital assets during his campaign and vowed to make the U.S. the "crypto capital of the planet."

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.

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