On July 28, Direxion Daily MU Bull 2X Shares fell 13.7% in regular trading, trading at approximately $24.90/share, with turnover of $287 million. The ETF has seen consecutive sharp pullbacks in recent sessions, with bearish pressure intensifying significantly.

On the news front, renowned investor Michael Burry disclosed an expanded short position against Micron Technology and the Philadelphia Semiconductor ETF. Burry argued that current massive demand at chip giants such as NVIDIA does not originate from end customers but is instead circularly driven through off-balance-sheet financing arrangements, raising concerns over semiconductor sector valuations. This view triggered broader selling across the chip space.

As a 2x leveraged ETF, the product's structural characteristics further amplified the drawdown in its underlying asset, Micron Technology, resulting in a decline substantially exceeding that of the stock itself. The combination of sustained short-selling momentum and leverage-induced magnification drove the outsized loss.

(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.)