Tesla's Pre-Market Decline Fuels Gains For These ETFs: TSLQ, TSLZ Rebound After Big Drops
Portfolio Pulse from Pooja Rajkumari
Tesla's pre-market decline led to gains for inverse ETFs like TSLQ and TSLZ, which rebounded after significant drops. Leveraged and inverse ETFs are gaining popularity for short-term trading, but come with high risks.
October 25, 2024 | 12:46 pm
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POSITIVE IMPACT
The Tradr 2X Short TSLA Daily ETF rose 3.40% in pre-market trading after a 43.93% drop post-earnings.
TSLQ's rebound is due to Tesla's stock decline, as it is an inverse ETF designed to profit from Tesla's price drops.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
The Direxion Daily TSLA Bear 1X Shares rebounded 1.10% in pre-market trading after a 21.88% drop.
TSLS's slight rebound is linked to Tesla's stock decline, as it is an inverse ETF benefiting from Tesla's price drops.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The T-Rex 2x Inverse Tesla Daily Target ETF rose 3.12% in pre-market trading after a 43.94% decline.
TSLZ's increase is due to Tesla's stock decline, as it is an inverse ETF that profits from Tesla's price drops.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 65
NEGATIVE IMPACT
Tesla's stock fell by almost 3% in pre-market trading, impacting various ETFs linked to its performance.
Tesla's stock decline directly impacts its linked ETFs, causing inverse ETFs to gain. This is significant for investors tracking Tesla's performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
The Direxion Daily TSLA Bull 2X Shares fell 2.93% in pre-market trading after a 43% rise the previous day.
TSLL's decline follows Tesla's stock drop, reflecting its leveraged nature and sensitivity to Tesla's price movements.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70