On July 29, Direxion Daily MU Bull 2X Shares fell 8.95% in after-hours trading, trading at $22.10/share, with turnover of $34.58 million. The ETF has experienced consecutive sharp declines across multiple trading sessions, with sustained bearish pressure intensifying.

On the news front, renowned investor Michael Burry previously disclosed an expanded short position against Micron Technology and the Philadelphia Semiconductor ETF. Burry argues that the massive demand seen at major chipmakers such as NVIDIA is not driven by genuine end-customer consumption but rather circulated through off-balance-sheet financing arrangements, raising concerns over semiconductor sector valuations amid the broader AI investment boom.

As a 2x leveraged ETF, the product's structural characteristics amplify the drawdown of its underlying asset, Micron Technology, resulting in declines significantly exceeding those of the reference stock itself. The compounding effect of leverage during consecutive down sessions has further eroded the ETF's net asset value.

(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.)