Stock Track | T-Rex 2X Long MSTU ETF Skyrockets 16.54% as MicroStrategy Bitcoin Mania Continues

Stock Track

2024-11-27

The T-Rex 2X Long MSTR Daily Target ETF (MSTU) soared a staggering 16.54% in pre-market trading on Wednesday, riding the wave of enthusiasm surrounding MicroStrategy and its CEO Michael Saylor's bullish stance on Bitcoin.

MSTU is a leveraged exchange-traded fund (ETF) that aims to deliver twice the daily returns of MicroStrategy's stock. As a data analytics firm, MicroStrategy has garnered significant attention by amassing a massive $37 billion worth of Bitcoin, making it the largest corporate holder of the cryptocurrency.

The surge in MSTU's pre-market trading can be attributed to the continued frenzy around MicroStrategy and Saylor's status as a "Bitcoin guru" among crypto enthusiasts. With MicroStrategy's stock soaring over 500% this year, outpacing even Bitcoin's gains, leveraged ETFs like MSTU that track the stock have seen astronomical returns due to their amplified exposure.

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