Shares of the Direxion Daily MU Bull 2X Shares (MUU), a leveraged ETF designed to deliver twice the daily performance of Micron Technology, soared 5.53% in the pre-market trading session, reflecting a sharp uptick in sentiment across the memory chip sector.

The rally was driven by heightened investor enthusiasm for the DRAM market, as highlighted by a detailed valuation analysis of Chinese memory maker CXMT. The report, which used Micron's DRAM business as a key benchmark, underscored the persistent global supply-demand gap for DRAM and the robust earnings growth potential for memory manufacturers. Micron, as a leading global DRAM producer, stands to benefit directly from the favorable pricing environment and structural demand drivers, including AI server expansion and domestic substitution trends in China.

The optimistic outlook for the memory industry, combined with the anticipation of CXMT's massive IPO, has reinforced the view that the current upcycle has further room to run, lifting Micron's stock and, in turn, the leveraged MUU ETF.