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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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
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