Leverage Shares 2X Long AVGO Daily ETF is trading 5.3% down today as its key underlying, Broadcom (AVGO), extends losses following a sharp post-earnings selloff and disappointing guidance.
- The move is compounded by broader weakness in AI-focused semiconductor and tech stocks, with Nasdaq futures down as investors rotate out of high-valuation growth names.
- Broadcom’s guidance has disappointed momentum traders, triggering a rotation into value and industrial sectors amid cooling sentiment for the semiconductor space.