On July 28, Direxion Daily Technology Bull 3X Shares declined 8.41% in regular trading, trading at approximately $154.43 per share, with turnover of $101 million.

On the news front, Alphabet and Tesla Q2 earnings revealed that surging AI capital expenditures drove free cash flow into negative territory for the first time in years. Alphabet posted single-quarter capital spending of $44.9 billion, doubling year-over-year, resulting in negative free cash flow of $5.9 billion. Tesla saw capex surge 142% year-over-year to $5.8 billion, with free cash flow turning negative at $1.09 billion. The Magnificent Seven collectively lost nearly $800 billion in market cap. Despite a brief 5.4% technical rebound on July 27, fundamental concerns over AI investment returns persist as Amazon, Microsoft, and Meta prepare to report earnings, fueling fears of additional negative cash flow signals. The 3x leveraged structure amplified downside volatility as the tech sector came under renewed selling pressure.

The fund invests at least 80% of its net assets in financial instruments providing 3X daily leveraged exposure to the Technology Select Sector Index, which includes domestic companies from the technology sector. 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.)