The leveraged inverse exchange-traded fund (ETF) seeks twice the opposite of SpaceX's daily performance and launches amid a series of market-moving events for the aerospace company.
Direxion has launched the Direxion Daily SpaceX Bear 2X ETF (LOFD), which aims to deliver 200% of the inverse daily performance of SpaceX (Nasdaq: SPCX) before fees and expenses to leverage bearish exposure to SpaceX's daily share price movements. The new ETF reflects continued demand for targeted, event-driven exposure through single-stock ETFs The launch completes Direxion’s suite of bullish and bearish products tied to Elon Musk-linked companies. The lineup now includes LOFF and LOF