The T-REX 2X Long MSTR Daily Target ETF (MSTU) soared 17.96% on Wednesday, November 7, 2024, amid a massive stock market rally following the re-election of Republican Donald Trump as U.S. President.
MSTU, a leveraged ETF that aims to provide twice the daily returns of the MicroStrategy (MSTR) stock, benefited from investors' optimism about potential pro-business policies under a second Trump administration. The broader market also saw significant gains, with the Dow Jones Industrial Average posting its best post-Election Day performance by jumping 3.5%, while the Nasdaq Composite and S&P 500 rose 2.9% and 2.5% respectively.
As a leveraged fund tracking MicroStrategy, which is seen as a cryptocurrency proxy due to its large Bitcoin holdings, MSTU's surge reflects investors' expectations of favorable conditions for risk assets like stocks and cryptocurrencies under the new administration.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.