NVDL, SOXL And Other Chip-Stock Tracking ETFs Trade Mixed Ahead Of Nvidia Earnings: Here's Why
Portfolio Pulse from Benzinga Neuro
ETFs tracking Nvidia show mixed pre-market reactions ahead of Nvidia's earnings report. Analysts express confidence in Nvidia's performance, with potential significant market impact anticipated.
August 28, 2024 | 9:47 am
News sentiment analysis
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NEGATIVE IMPACT
GraniteShares 2x Short NVDA Daily ETF (NVD) fell by 1.20%, reflecting negative sentiment towards Nvidia.
NVD's decline suggests bearish sentiment as investors expect positive results from Nvidia's earnings.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Direxion Daily Semiconductor Bear 3x Shares (SOXS) is down by 0.85% pre-market, reflecting negative sentiment ahead of Nvidia's earnings.
SOXS's decline suggests bearish sentiment as investors anticipate positive results from Nvidia's earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GraniteShares 2x Long NVDA Daily ETF (NVDL) gained 0.98%, indicating positive sentiment towards Nvidia.
NVDL's increase suggests investor confidence in Nvidia's performance, likely benefiting from positive earnings results.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) increased by 1.09%, indicating positive sentiment towards Nvidia.
NVDX's rise suggests investor confidence in Nvidia's performance, likely benefiting from positive earnings results.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
VanEck Semiconductor ETF (SMH) is trading 0.40% higher, showing moderate optimism ahead of Nvidia's earnings.
SMH's slight increase indicates moderate investor optimism about Nvidia's earnings, which could benefit semiconductor ETFs.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Direxion Daily Semiconductor Bull 3x Shares (SOXL) is trading higher by 1.14% ahead of Nvidia's earnings, indicating positive sentiment.
SOXL's increase suggests investor optimism about Nvidia's upcoming earnings, which could positively impact semiconductor stocks.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80