On July 29, Direxion Daily MU Bull 2X Shares declined 8.02% in regular trading, trading at $22.475/share, with turnover of $639 million. The ETF had briefly rebounded overnight but came under renewed selling pressure during the regular session.

On the news front, persistent doubts over the sustainability of AI-driven semiconductor demand continued to weigh on sentiment. Renowned investor Michael Burry previously disclosed an expanded short position in Micron Technology and the Philadelphia Semiconductor ETF, arguing that substantial chip demand from major players is not driven by end customers but rather sustained through off-balance-sheet financing arrangements. This has intensified concerns over semiconductor sector valuations.

As a 2X leveraged ETF, the product's structural characteristics amplify the magnitude of underlying asset Micron Technology's decline, resulting in losses significantly exceeding those of the base stock itself. The ETF has experienced consecutive sharp pullbacks across multiple trading sessions, with bearish pressure continuing to mount.

(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.)