Direxion Daily MU Bull 2X Shares is trading 11% down today as traders lock in profits following a massive multi-day rally in Micron Technology and other AI-linked semiconductor names.
- The ETF's 2x leveraged structure is magnifying the downside move in Micron (MU) amid a sector-wide retreat in chip stocks.
- Aggressive de-risking in high-beta exposure is being driven by broader risk-off sentiment and elevated interest rate concerns ahead of upcoming inflation data.