On July 24, Direxion Daily Technology Bull 3X Shares declined 5.29% in regular trading, trading at $175.69/share, with turnover of $85.46 million. The leveraged ETF tracking technology stocks came under heavy pressure as major tech earnings revealed alarming capital expenditure trends.

On the news front, Alphabet and Tesla both released Q2 earnings on the same day, with both companies reporting negative free cash flow due to surging AI-related capital expenditures. Tesla's capex soared 142% year-over-year to $5.8 billion, resulting in free cash flow of negative $1.09 billion, while operating profit plunged 57% year-over-year. Alphabet's free cash flow turned negative for the first time in decades as the company raised full-year capital spending guidance. The Nasdaq fell over 2% in a single session, with the Magnificent Seven collectively losing nearly $800 billion in market capitalization, while the VIX fear index rebounded sharply.

Direxion Daily Technology Bull 3X Shares invests at least 80% of its net assets in financial instruments that provide 3X daily leveraged exposure to the Technology Select Sector Index, amplifying both gains and losses in the domestic 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.)