On July 31, Direxion Daily MU Bull 2X Shares rose 8.42% in pre-market trading, trading at $29.26/share, with turnover of $46.17 million.

On the news front, the underlying asset Micron Technology continued its rebound, with the storage sector strengthening broadly. The Philadelphia Semiconductor Index surged over 8%, with peers including SanDisk up over 6%, Western Digital up nearly 5%, and Seagate Technology up over 4%. The ETF had previously experienced multi-session sharp pullbacks following well-known investor Michael Burry expanding his short position in Micron Technology and market skepticism over the sustainability of AI demand. Burry argued that chip giants current demand is not driven by end customers but rather by off-balance-sheet financing arrangements creating a circular effect.

As a 2x leveraged ETF, the product structural characteristics amplified the magnitude of the underlying asset rebound, resulting in gains significantly exceeding those of the reference stock itself.

(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.)