On July 31, Direxion Daily MU Bull 2X Shares rose 8.01% in after-hours trading, trading at $29.122/share, with turnover of $66.96 million.

On the news front, the underlying asset Micron Technology extended its rebound, as the broader storage sector rallied collectively. SanDisk surged over 6%, Western Digital gained nearly 5%, and Seagate Technology rose more than 4%. The ETF had previously experienced consecutive sharp pullbacks across multiple trading sessions following renowned investor Michael Burry's disclosed expansion of short positions in Micron Technology, coupled with market skepticism over the sustainability of AI-driven demand. Burry has argued that chip giants' current elevated demand is not driven by end customers but rather by off-balance-sheet financing arrangements creating a circular demand loop.

As a 2x leveraged ETF, its structural characteristics amplified the underlying asset's rebound magnitude, resulting in gains significantly exceeding those of the reference stock itself. Notably, retail investors had recently been selling semiconductor and AI-related stocks heavily, according to reports from J.P. Morgan and Vanda Research, with the Philadelphia Semiconductor Index surging over 8% in the session.

(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.)