On July 27, Direxion Daily Technology Bull 3X Shares rose 5.4% in pre-market trading, trading at $186.66/share, with turnover of $39,500. The leveraged ETF rebounded as the market gradually digested prior negative earnings catalysts from major tech companies.

Earlier, Alphabet and Tesla simultaneously released Q2 earnings, both reporting free cash flow turning negative for the first time in decades due to surging AI capital expenditures. The Magnificent Seven lost nearly $800 billion in market capitalization in a single session, and this ETF plunged 5.29% on July 24. As the selloff pressure eased, investors refocused on positive signals including Google Cloud revenue surging 82% year-over-year and Alphabet total revenue growing 24% above expectations. The broader industry consensus that the AI infrastructure investment cycle remains in expansion mode has not shifted, supporting a technical rebound from oversold levels.

The fund invests at least 80% of its net assets in financial instruments that provide 3X daily leveraged exposure to a technology sector index, including swap agreements, index securities, and ETFs tracking the index. It is non-diversified.

(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.)