On May 21, Direxion 2X Long MU ETF rose 8.08% in regular trading, trading at $549.91/share, with trading volume of approximately $529 million.

The rally was driven by multiple bullish catalysts for underlying stock Micron Technology. Citi dramatically raised Micron's target price from $425 to $840, citing a DRAM super cycle accelerating into a price elasticity release phase. The firm projects Micron's core EPS will exceed $100 for the first time in fiscal year 2027, reaching $104.56. Separately, HSBC raised its Micron target from $750 to $1,100, maintaining a Buy rating.

Supply-side disruption further bolstered sentiment as Samsung Electronics' labor negotiations collapsed, with over 47,000 union members — representing 64% of Samsung's semiconductor division workforce — set to begin the largest strike in global semiconductor history. The production halt threatens to tighten DRAM and HBM supply, directly benefiting competitors including Micron. Citi estimates DRAM average prices will rise significantly, with Samsung already hiking prices 100% and Micron planning a 40%+ increase in the second quarter.

(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.)