On July 2, Direxion Daily Technology Bull 3x (TECL) fell 5.4% in regular trading, trading at $202.32/share, with turnover of $76.87 million.

On the news front, Meta is reportedly building an AI cloud computing business, planning to commercialize its surplus AI computing capacity by offering it externally. The announcement quickly sparked market concerns over AI computing supply-demand dynamics and future capital expenditure trajectories, triggering concentrated profit-taking across the AI hardware supply chain that had previously led the rally.

Adding to the pressure, Morgan Stanley's chief equity strategist had warned that semiconductor EPS revision breadth is approaching historical extremes, suggesting price momentum may be nearing a cyclical peak — drawing parallels to silver stocks' brief euphoria earlier this year before rapidly fading. The semiconductor sector's cumulative gain exceeding 80% in the first half amplified selling urgency, as massive unrealized profits were cashed out under the dual pressure of topping signals and fundamental concerns. The fund's 3x leverage mechanism further magnified the pullback magnitude.

The fund invests at least 80% of its net assets in financial instruments that provide 3X daily leveraged exposure to the Technology Select Sector Index, which includes domestic companies from the technology sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)