Movement Alert｜Direxion Daily MU Bull 2X Shares Falls 11.04% in Regular Trading, Storage Sector Guidance Miss Sparks Broad Selloff Amplified by Leverage

Market Focus08-06 21:41

On August 6, Direxion Daily MU Bull 2X Shares declined 11.04% in regular trading, trading at $25.2/share, with turnover of $235 million. As a 2x leveraged ETF, its product structure amplified the decline of its underlying asset, Micron Technology.

On the news front, SanDisk reported earnings that beat expectations, but its current-quarter revenue guidance fell short of market consensus while gross margins showed signs of peaking. Citi and Jefferies subsequently cut their target prices on SanDisk. Meanwhile, Western Digital posted better-than-expected results, but the market deemed prior gains had already priced in the upside. The storage sector sold off broadly, with Western Digital falling over 16%, SanDisk dropping over 11%, SK Hynix declining nearly 7%, and Micron Technology losing over 5%. The 2x leverage structure further magnified the ETF's losses relative to its underlying holding.

(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.)

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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