Benzinga
One ETF Is Making a Killing on Micron's Meltdown -- Can It Keep Cashing In? - Micron Technology (NASDAQ:MU
xCruzo Brief
The Defiance Daily Target 2X Short MU ETF (NYSE: MUZ) jumped more than 25% at one point on Thursday as Micron Technology (NASDAQ: MU) extended a sharp decline alongside a wider retreat from AI and semiconductors. MUZ is a leveraged inverse fund designed to deliver 200% of Micron’s daily inverse return, and it had already gained 14.23% on Wednesday, closing at $10.76. Thursday volume rose to nearly 10 million shares, supporting the move. Micron fell about 14% on Thursday, with its 14-day RSI dropping to 21.2, indicating oversold conditions, even as trend indicators suggested sustained weakness.
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