🔴 SOXS is trading 15.9% down today on a semiconductor rebound following Micron's strong earnings

SOXS is trading 15.9% down today as traders unwind bearish semiconductor bets following a powerful rebound across the chip sector.

• Micron’s better-than-feared earnings and robust AI-driven memory demand have triggered double-digit gains in MU and QCOM, lifting the broader semiconductor complex.
• The sharp move higher in chip stocks is pressuring this inverse 3x leveraged product, which tracks the inverse performance of the ICE Semiconductor Index.
• The decline reflects a significant shift in market sentiment as investors pivot back toward bullish positioning in semiconductor equities.