On July 6, Direxion 2x Bull MU ETF rose 6.79% in pre-market trading, trading at $790.56/share, with turnover of $11.92 million. The rally reflects continued momentum from its underlying stock Micron Technology following a major expansion announcement.

On the news front, Micron Technology recently announced that its $9.3 billion advanced memory chip expansion project in Hiroshima, Japan has officially broken ground, with HBM product shipments expected to begin in the second half of 2028. This significant capacity expansion plan has materially boosted market confidence in Micron's long-term growth prospects in AI memory.

The move is also viewed as a technical rebound from oversold conditions. Micron's stock had previously retreated over 20% from its post-earnings high of $1,214, pressured by overcapacity concerns triggered by Meta's compute capacity sale and notable investor Michael Burry establishing a short position at $1,051.87. The combination of the expansion catalyst and stretched downside positioning has driven buying momentum in the leveraged ETF.

(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.)