Direxion Daily Micron Bull 2X ETF Drops 26.65% as Micron Falls Amid Broadcom Miss, Rate Hikes
The Direxion Daily Micron Bull 2X Shares (MUU) fell by nearly 27% in a single trading session due to a sharp drop in its underlying stock, Micron Technology (NASDAQ: MU), which declined over 13%. The sell-off was exacerbated by Broadcom's disappointing AI revenue guidance and rising interest rates. Despite the one-day loss, Micron remains up significantly year-to-date.
Topics: AI revenue miss Broadcom interest rates Micron MUU ETF