On July 31, Direxion Daily MU Bull 2X Shares rose 9.6% in regular trading, trading at $28.98/share, with turnover of $523 million.

On the news front, the underlying asset Micron Technology extended its rebound, with the storage sector strengthening broadly and the Philadelphia Semiconductor Index surging over 8%. Storage peers including SanDisk rose over 6%, Western Digital gained nearly 5%, and Seagate Technology climbed over 4%.

The ETF had previously experienced sharp declines over multiple consecutive trading sessions after renowned investor Michael Burry disclosed an expanded short position in Micron Technology, while market concerns over the sustainability of AI-driven demand further pressured the semiconductor sector. Burry argued that chip giants' current elevated demand was not from end customers but rather driven by off-balance-sheet financing arrangements.

As a 2x leveraged ETF, its structural characteristics amplify the magnitude of the underlying asset's moves, resulting in intraday gains significantly exceeding those of Micron Technology 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.)