The Direxion Daily Semiconductors Bear 3x Shares (SOXS) surged 7.27% during intraday trading on Thursday. As a leveraged exchange-traded fund designed to deliver three times the inverse daily performance of the semiconductor sector, its price movement is directly tied to declines in semiconductor stocks.
The sharp rise in SOXS coincided with a broad sell-off across the semiconductor industry. Major chip and storage companies experienced significant losses during the session, creating the conditions for the bearish ETF to rally.
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