Stock Track | Direxion Daily MU Bull 2X Shares Soars 9.40% Intraday on Micron's HBM4 Production and Analyst Upgrades

Stock Track
Feb 12

The Direxion Daily MU Bull 2X Shares (MUU) soared 9.40% during intraday trading on Thursday. MUU is an exchange-traded fund designed to deliver twice the daily return of Micron Technology Inc. (MU), meaning its price movement is directly amplified by the performance of the underlying semiconductor stock.

The sharp rise follows positive developments for Micron, including the company's confirmation that it has commenced mass production and shipment of next-generation HBM4 memory chips. At an industry conference, Micron's Chief Financial Officer expressed confidence in the company's competitiveness in the high-bandwidth memory segment, alleviating previous market concerns.

Additionally, Wall Street analysts have raised their outlook on Micron. Morgan Stanley significantly increased its price target for the company, citing persistent supply shortages and strong demand expected to drive further price increases. The combination of technological execution and favorable industry fundamentals has driven a rally in memory chip stocks, with gains in Micron's share price being magnified for holders of the leveraged MUU ETF.

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