AAOG is trading at $4.80 (+25.0%) following a continued sharp rebound in its underlying leveraged exposure, Applied Optoelectronics (AAOI), which previously lifted the ETF on July 14.
- Pre-market strength is being reinforced by improved technology risk appetite and a positive Nasdaq-futures backdrop ahead of the 8:30 AM PPI release.
- As a 2x leveraged product, the ETF is seeing outsized swings relative to the underlying tech move as softer inflation hopes support growth stocks.