Intel's $90 billion wipeout triggers 20% crash in leveraged single-stock ETFs

Price Action
โดย Benzinga·Read original
Summary · why it matters

Intel's post-earnings reversal erased roughly $90 billion in market capitalization in less than 24 hours, sparking a roughly 20% decline in leveraged single-stock ETFs that track the chipmaker. Shares surged as much as 15% in after-hours trading following Wednesday's quarterly report, then gave up all gains and fell 4% by Friday, according to The Kobeissi Letter. The Direxion Daily INTC Bull 2X ETF and GraniteShares 2x Long INTC Daily ETF, both designed to deliver twice Intel's daily performance, each fell around 20% since Wednesday, while the Direxion Daily Semiconductor Bull 3X Shares dropped almost 11% on Friday afternoon. Broader semiconductor ETFs also felt pressure, with the VanEck Semiconductor ETF down nearly 2%, the iShares Semiconductor ETF off almost 4%, the Invesco PHLX Semiconductor ETF eroding more than 3%, and the SPDR S&P Semiconductor ETF falling almost 5%. The moves underscore the amplified risks of leveraged single-stock funds during earnings-driven volatility.

Impact on stocks 2

Semiconductors▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
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