Proposed Stricter Nasdaq Delisting Process Could Put Spotlight On Direxion Small Cap Bull And Bear 3X ETFs
Portfolio Pulse from Joshenomoto@benzinga.com
Nasdaq has proposed stricter delisting processes for companies that fall out of compliance with listing standards, potentially impacting penny stocks. This could affect Direxion's leveraged ETFs, TNA and TZA, which track the Russell 2000 index. TNA and TZA have seen significant price fluctuations recently.
August 09, 2024 | 6:34 pm
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Nasdaq's proposed stricter delisting rules aim to improve the quality of listed companies by targeting penny stocks. This could lead to a more robust market environment.
The proposed rules are likely to enhance the quality of companies listed on Nasdaq, potentially leading to a more stable and attractive market environment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Direxion Daily Small Cap Bull 3X Shares (TNA) has seen significant price fluctuations. The ETF recently dropped below its 200-day moving average but has since recovered. Investors should watch the $38 support line.
TNA's price action indicates volatility. The ETF's recovery above the 200-day moving average is a positive sign, but investors should monitor key support levels.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Direxion Daily Small Cap Bear 3X Shares (TZA) has also experienced severe price fluctuations. The ETF is struggling to get above its 50-day moving average. Investors should watch the $18 support line.
TZA's price action shows volatility. The ETF's struggle to clear the 50-day moving average is a concern, but key support levels should be monitored.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70