Direxion Daily Semiconductor Bull 3X ETF Explodes
Yahoo Finance ·
It's Thursday, 2 p.m., and do you know where the Nasdaq is? It's up a respectable 1.2% -- but the Direxion Daily Semiconductor Bull 3X Shares ETF ( SOXL +12.47% ) is up much, much more, surging past 14.1% on some billion-dollar-plus news items in semiconductors today. The first news comes from Micron ( MU +6.90% ) stock, which is surging nearly 8% after announcing it's investing up to $3 billion "to strengthen the U.S. semiconductor supply chain ecosystem," including by loaning GlobalWafers Co., Ltd. $500 million to help build its 300mm raw silicon wafer manufacturing facility in Sherman, Tex., and its signing a 10-year deal to buy the wafers GlobalWafers churns out. In related news, Reuters is reporting that Meta Platforms ( META +2.08% ) has signed a multi-year supply agreement to source NAND flash memory for its data centers from Sandisk ( SNDK +11.93% ) , and is also buying DRAM from Samsung, and fiber optic cables from Sumitomo Electric, and Iris artificial intelligence chips from Taiwan Semiconductor Manufacturing ( TSM +0.52% ) -- with Broadcom ( AVGO +4.24% ) doing the chip design work.
DYAX Investor Sentiment
Bullish (Long) 51% · Bearish (Short) 49%
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