SNXX is trading 11.2% down today as the recent semiconductor and AI-chip rally unwinds, triggering profit-taking across the sector.
- The fund, a 2x leveraged ETF on Sandisk (SNDK), is seeing an outsized decline as it amplifies the daily downward moves of the underlying stock amid volatile memory-chip sentiment.
- While broader U.S. futures are only modestly lower, the sharp move in SNXX reflects a specific sector-driven reversal following last week's significant surge.