SMH3.L is trading approximately 3.9% lower today, giving back a portion of the sharp 31% surge recorded on August 4, 2026.
- The move reflects a normal pullback following an extreme rebound in semiconductor names, with the sector currently weighed down by mixed sentiment surrounding AI-related growth.
- Recent weakness in Nasdaq-linked technology stocks has pressured the 3x leveraged play, even as broader market risk appetite remains relatively constructive.