Why Direxion Daily Semiconductor Bull 3X ETF Keeps Crashing
3X'ing the risk on semiconductor stocks turned out to be a bad bet today.
Overview
Pity investors in the Direxion Daily Semiconductor Bull 3X Shares ETF (NYSEMKT: SOXL) -- they just can't catch a break.
For three days running, this ETF has fallen 10% or more. (It's actually fallen for four straight days, but Thursday's decline was rather modest.) Counting today's 12.8% decline through 3:10 p.m., the semiconductor index has lost 31% of its value since Wednesday evening.
Details
But why?
Source
Originally published at www.fool.com.
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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.