Direxion's Inverse ETF SPDN Allows Investors To Profit From Market Carnage
Portfolio Pulse from Joshenomoto@benzinga.com
Direxion's inverse ETF SPDN allows investors to profit from market downturns. The S&P 500 and Nasdaq Composite are down, with technology sector losses weighing heavily. CrowdStrike Holdings Inc. (CRWD) experienced a significant drop due to a technical error. The SPDN ETF has gained 3% over the past week.
July 19, 2024 | 7:42 pm
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POSITIVE IMPACT
The Direxion Daily S&P 500 Bear 1X Shares (SPDN) ETF has gained 3% over the past week as the S&P 500 and Nasdaq Composite indices have fallen. This inverse ETF profits when the S&P 500 declines.
The SPDN ETF is designed to profit from declines in the S&P 500. With the S&P 500 down 0.7% and the Nasdaq Composite down 0.8%, SPDN has gained 3% over the past week, indicating a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
CrowdStrike Holdings Inc. (CRWD) experienced a significant drop of over 12% due to a technical error that caused widespread disruptions in critical service infrastructures.
A technical error at CrowdStrike caused disruptions in critical infrastructures, leading to a significant drop in its stock price. This negative event is likely to impact CRWD's stock negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80