On June 11, Direxion Daily Semiconductor Bear 3X ETF (SOXS) fell 8.52% in pre-market trading, trading at $5.98/share, with trading volume of $35.11 million. As a triple-leveraged inverse semiconductor ETF, the decline reflects a broad rebound in the underlying semiconductor sector.
The semiconductor recovery is driven by multiple catalysts. Reports indicate Google has placed orders with Intel for over 3 million TPUs targeted for 2028 production, while NVIDIA is evaluating Intel technology for integrated multi-GPU processors. Additionally, NVIDIA and SK Hynix announced a multi-year partnership to co-develop next-generation AI memory, with SK Hynix's planned capacity doubling by 2030 still deemed insufficient to meet surging demand. WSTS has also upgraded its global semiconductor market forecast for 2026-2027, signaling a structural re-rating phase driven by AI infrastructure buildout.
The rebound follows a sharp prior selloff in which the VanEck Semiconductor ETF (SMH) had dropped over 10% from its recent highs, with put option volume reaching five times call volume, suggesting the current move may represent a short-covering reversal after extreme bearish positioning.
The fund invests at least 80% of net assets in financial instruments providing 3X daily inverse exposure to an index tracking the thirty largest U.S. listed semiconductor companies. 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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