On July 30, Direxion Daily MU Bull 2X Shares fell 8.05% in after-hours trading, trading at $18.05/share, with turnover of $37.16 million. The ETF has now declined across multiple consecutive trading sessions, with bearish pressure intensifying sharply.

On the news front, renowned investor Michael Burry previously disclosed an expanded short position against Micron Technology and the Philadelphia Semiconductor ETF. Burry argues that current massive demand at chip giants such as NVIDIA is not driven by end customers but rather sustained through off-balance-sheet financing arrangements, raising significant concerns over semiconductor sector valuations. Additionally, broader market skepticism regarding the sustainability of AI-driven chip demand continues to weigh on the underlying asset.

As a 2x leveraged ETF, the product's structural characteristics amplify the drawdown of its underlying asset Micron Technology, resulting in losses significantly exceeding those of the stock itself. The ETF has dropped from approximately $33.87 earlier in the week to $18.05, reflecting a steep cumulative decline driven by persistent negative sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)