Movement Alert｜GraniteShares 2x Long MU Daily ETF falls 8.11% in Regular Trading, leveraged memory trade pulls back after price-hike rally

Market Focus10-30 00:23

On October 30, GraniteShares 2x Long MU Daily ETF falls 8.11% in Regular Trading, trading at $19.2, with turnover of $86.4312 million.

The move followed a pullback in the leveraged memory trade after prior gains tied to tighter supply and rising pricing expectations in DRAM and HBM.

Recent market updates had boosted sentiment across memory names: SK hynix said DRAM and HBM capacity was sold out through 2029 and that shortages could persist to 2030, while Goldman Sachs expected DRAM prices to keep rising into the first half of 2028 and projected HBM market revenue growth of more than 230% next year. Earlier alerts on this ETF highlighted that, after a sharp rally, its 2x structure amplified both upside and subsequent drawdowns, helping explain the latest retreat.

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