SOXS is trading 11.9% down today as semiconductor stocks rebound sharply, reversing a recent period of heavy selling in the sector.
- The move comes as traders unwind bearish bets on the 3x inverse semiconductor ETF following a prior 4.78% plunge in the broader semiconductor index.
- Major chip names including Micron and SK Hynix ADR are seeing a recovery in sentiment as investors rotate back into risk assets.
- Market participants are repositioning ahead of the June CPI release, driving a broad rally across the semiconductor landscape.