The GraniteShares 2x Long NVDA Daily ETF (NVDL) plunged 6.76% during Thursday's trading session, mirroring a sharp decline in NVIDIA shares. The leveraged ETF's drop was amplified by NVIDIA's 1.8% premarket loss, which followed Oracle's weaker-than-expected earnings report.
Oracle's disappointing results dampened investor sentiment across the AI sector, with NVIDIA leading losses among major U.S. tech stocks. The broader Nasdaq 100 futures fell 0.8%, reflecting heightened risk aversion. As NVDL tracks twice the daily performance of NVIDIA, the ETF's decline outpaced NVIDIA's slide.
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