On July 9, Direxion Daily MU Bull 2X Shares ETF rose 12.56% in regular trading, trading at $800.7/share, with turnover of $731 million.

The rally was primarily driven by a broad stabilization in the memory chip sector combined with Bank of America's latest report reaffirming its Buy rating on underlying stock Micron Technology with a $1,550 price target. BofA characterized the recent semiconductor pullback as a \"healthy correction\" rather than a trend reversal, noting that memory stocks currently trade at just 10x earnings — a level it deemed severely undervalued.

Additionally, Micron announced plans to invest over $250 billion in US operations through 2035, targeting 40% of its total DRAM output domestically, reinforcing long-term confidence in AI-driven memory demand. With Micron having previously declined over 20% from its recent high into technically oversold territory, dip-buying emerged across the storage sector. The ETF's built-in 2x leverage significantly amplified the rebound in the underlying stock.

(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.)