Tradr 2X Long SNDK Daily ETF (SNXX) plummeted 14.86% intraday on Friday, significantly underperforming the broader market.

The sharp decline follows a substantial rally in the storage chip sector during the previous session and reflects concentrated profit-taking across the sector. U.S. chip stocks broadly declined in overnight trading, with the ETF's underlying stock, SanDisk, falling notably.

As a 2x daily leveraged long product tracking SanDisk, the ETF amplified the underlying stock's pullback. The rapid reversal is characteristic of post-earnings profit realization dynamics in leveraged instruments, particularly after the storage sector's strong performance driven by positive earnings from memory chip companies like Micron Technology in the prior session.