🔴 SPXS is trading 3.6% down today as major U.S. indices rally on strong manufacturing data

SPXS is trading 3.6% down today at $24.53 as major U.S. indices rally on stronger manufacturing data and easing geopolitical tensions.

• The S&P 500, Nasdaq, and Dow are all up more than 1%, creating significant downward pressure on this 3x inverse S&P 500 ETF.
• Improving macroeconomic indicators are driving broad risk-on sentiment across the equity markets.
• The decline in leveraged bearish products like SPXS is a result of overall market momentum rather than any fund-specific catalyst.