🔴 COHH is trading 5.1% down today as Coherent gives back gains after a sharp AI-driven rebound

COHH is trading 5.1% down today as its underlying asset, Coherent (COHR), faces profit-taking following a sharp rebound in the AI hardware and optical electronics sectors.

• The downside in the leveraged COHH structure is being amplified as Coherent gives back recent gains despite broader market indices trading higher.
• Investors are locking in profits in AI hardware and optical electronics after a period of significant volatility and recent price appreciation.
• The 2x leverage of the ETF is accelerating losses as the underlying stock retreats from its recent peak.