On June 23, ProShares UltraPro Short QQQ (SQQQ) rose 9.59% in regular trading, trading at $39.91/share, with turnover of $860 million. The triple-leveraged inverse Nasdaq 100 ETF surged as a broad tech selloff swept global markets.
The sell-off was triggered by investors fleeing mega-cap technology stocks. Nasdaq 100 futures plunged as much as 2.8% in pre-market trading, while S&P 500 futures slid 1.4%. During the prior session, Amazon fell nearly 5%, Alphabet dropped 5% after two top AI researchers defected to competitors, and Meta declined 2%. SpaceX tumbled 16%, marking its third consecutive day of losses. The contagion spread to Asia, where South Korea's KOSPI index plunged 10%, with SK Hynix and Samsung Electronics both falling over 10%. Memory and semiconductor stocks led declines globally, with Intel and Micron Technology also sliding in pre-market trading.
The fund invests in financial instruments designed to produce daily returns consistent with 3x the inverse of the Nasdaq 100 Index, which includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. The fund is non-diversified.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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