SOXS Rises as Micron Falls Amid Concerns Over Chinese Memory Chip Competition
The Direxion Daily Semiconductor Bear 3X Shares (SOXS) surged approximately 11% following a decline in memory chip stocks like Micron and SK Hynix. The move was triggered by news that ChangXin Memory Technologies (CXMT), a Chinese DRAM maker, plans an $8.5 billion IPO on Shanghai's STAR Market.
Topics: ipo leveraged_etf memory_chips semiconductors