SOXS is trading at $3.83 (-5.2%) as semiconductor stocks bounce back from a sharp tech rout, prompting traders to exit inverse-chip hedges.
- The move follows a firmer pre-market tone in U.S. futures, with Nasdaq-100 futures trending higher amid a lack of major economic data releases.
- Market sentiment suggests stabilization and short-covering following a recent AI valuation reset, with focus shifting to Micron's earnings report later today.