Direxion Daily TSLA Bull 2X Shares (TSLL) soared 5.03% in a 24-hour period on Wednesday, reflecting heightened investor optimism surrounding Tesla and its future prospects. The leveraged ETF, which aims to deliver twice the daily performance of Tesla's stock, benefited from several positive developments and market sentiment shifts.

A key driver behind the surge was the news that Tesla is targeting June 12 for the launch of its robotaxi service in Austin, Texas. This previously unreported date, discussed internally at Tesla, signals a potential new revenue stream for the electric vehicle giant. The robotaxi service represents a significant step forward in Tesla's autonomous driving ambitions and could open up new market opportunities.

Adding to the positive momentum, a group of Tesla investors has urged CEO Elon Musk to commit at least 40 hours per week to running the electric vehicle company. This push for increased focus from Musk comes amid concerns about Tesla's recent performance and stock price volatility. The investors, collectively holding approximately 7.9 million shares, argued that Musk's undivided attention is needed to address faltering sales and stabilize the company's stock price.

The market's reaction to these developments suggests renewed confidence in Tesla's future, despite recent challenges. As TSLL provides leveraged exposure to Tesla's stock movements, it amplified the gains seen in the underlying asset. Investors should note, however, that leveraged ETFs like TSLL come with higher risks and are typically used for short-term trading rather than long-term investing.