SNXX rose 19.2% in 24 hours. This thing is a 2x leveraged ETF on SanDisk—translated into plain English, if the underlying stock goes up 1%, it goes up 2%. The underlying stock, SanDisk, also surged 9.9%, with $1.8 billion in trading volume in a single day. Wow, the volume alone puts it in a completely different league.
The trigger was the launch of GPT-6 Astra. AI servers are absorbing a huge chunk of storage capacity, and original manufacturers have been steadily pushing prices higher—so much so that even smartphones are starting to get more expensive. This storage rally is really the real deal, with both the underlying stock and the leveraged product moving together.
After a 9.9% jump in one day, even someone like me, who is usually a bit late to the party, gets itchy to chase it but still doesn’t dare. Besides, a 2x leveraged ETF comes with built-in decay; holding it for too long can eat away at returns, so I figure I’ll pass and just watch.
The trigger was the launch of GPT-6 Astra. AI servers are absorbing a huge chunk of storage capacity, and original manufacturers have been steadily pushing prices higher—so much so that even smartphones are starting to get more expensive. This storage rally is really the real deal, with both the underlying stock and the leveraged product moving together.
After a 9.9% jump in one day, even someone like me, who is usually a bit late to the party, gets itchy to chase it but still doesn’t dare. Besides, a 2x leveraged ETF comes with built-in decay; holding it for too long can eat away at returns, so I figure I’ll pass and just watch.