Why Direxion Daily Semiconductor Bull 3X ETF Dropped Today
China is coming for American chip stocks' market share -- and investors are scared.
Overview
The Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) is a momentum back -- but its momentum is moving in the wrong direction today.
This ETF, which takes the performance of semiconductor stocks as a whole and multiplies it -- up or down -- by 3x, soared 32% in the first two weeks of August, but then turned tail today and dropped 8% through 12:12 p.m. ET.
Details
And why?
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.