SPMO is trading 1.8% down today as its tech-heavy portfolio reacts to a reversal in the information technology sector following yesterday’s Micron-led rally.
- The ETF is under pressure due to its 56% weighting in information technology, which is seeing a pullback as broader tech sentiment cools.
- Nasdaq-100 futures are trading lower as investors begin rotating away from expensive growth names despite recent AI-driven gains.
- The reversal follows a period of strength in semiconductors sparked by Micron’s strong earnings report.