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Why Direxion Daily Semiconductor Bull 3X ETF Crashed Today

The Motley Fool·
Why Direxion Daily Semiconductor Bull 3X ETF Crashed Today

The Direxion Daily Semiconductor Bull 3X ETF (SOXL) declined 6.87% today as semiconductor stocks fell due to concerns about Chinese DRAM manufacturer ChangXin Memory Technologies (CXMT) challenging Western competitors. Micron stock, SOXL's largest holding, dropped 13.5% this week, while Sandisk fell 18%. However, SOXL's lack of Sandisk exposure limited the damage compared to what it could have been.

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