🔴 SNDQ is trading 37.6% down today as underlying long-equity exposure rebounds on strong Micron earnings

SNDQ is trading 37.6% down today as its underlying long-equity exposure rebounds after several sessions of tech-led weakness.

• Broader U.S. market sentiment has turned risk-on following Micron’s strong AI-driven earnings and a recovery in growth stocks.
• The upward movement in the underlying long-equity benchmark mechanically drives down leveraged inverse products like SNDQ.
• The decline follows a period of tech-led weakness, marking a sharp reversal for inverse equity strategies.