Why Direxion Daily Semiconductor Bull 3X ETF Just Crashed
SOXL is a big bet on semiconductor stocks. That bet doesn't always work out as planned.
Overview
It's Thursday, 2:30 p.m., and do you know where the Nasdaq is?
It's down about 1.3% -- but the Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) is down much, much more, collapsing 14.5% as investors react to some caveats in Taiwan Semiconductor Manufacturing Company's (NYSE: TSM) otherwise blockbuster Q2 earnings report.
Image source: Getty Images.
Details
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.