Direxion Daily TSLA Bull 2X Shares (TSLL) surged 5.01% during intraday trading on Wednesday, reflecting amplified gains from its underlying asset.
The leveraged exchange-traded fund's movement closely tracks Tesla stock, which rose in early trading after Bank of America upgraded the electric vehicle maker from Hold to Buy. BofA cited Tesla's leadership in consumer autonomy and set a price target of $460 per share, providing a catalyst for the stock's upward move.