SSPC is trading 3.4% up today as SpaceX (SPCX) shares continue to fall following a steep decline triggered by a large public bond offering.
- SpaceX shares tumbled approximately 16% on June 22 after news of the bond offering raised investor concerns regarding the company's funding strategy.
- As a leveraged inverse product, SSPC delivers -2x the daily return of SpaceX, allowing it to gain value as the underlying stock faces continued selling pressure this morning.