🔴 Defiance Daily Target 2X Long IREN ETF plunges 10.3% as Bitcoin pullback hits crypto-linked stocks

Defiance Daily Target 2X Long IREN ETF is trading down ~10.3% as the underlying stock, IREN, was caught in a selloff among crypto-linked equities.

• The underlying stock, IREN, fell 5.7% on Thursday due to a significant decline in Bitcoin, which broadly impacted crypto mining stocks.
• As a 2X leveraged ETF, IRE's decline of over 10% reflects the amplified impact of the underlying stock's movement.
• A wider tech selloff, sparked by Broadcom's weak AI-chip guidance, also contributed to negative sentiment in the growth sector.