GraniteShares 2x Long DELL Daily ETF is trading 11.6% down today as the fund pulls back sharply following an extreme multi-session AI-fueled rally tied to Dell’s server optimism and earnings momentum.
- The outsized downside move is driven by the ETF's 2x daily long leverage, which amplifies even modest profit-taking and price corrections in the underlying Dell stock.
- A generally risk-off tone across broader equity markets is contributing to the reversal after the stock's recent significant advance.