Key facts
- SpaceX (SPCX) shares increased by approximately 6% in premarket trading.
- New daily leveraged ETFs, SPCH and SSPC, have been introduced.
- SPCH is designed to provide 2x the daily returns of SpaceX.
- SSPC is designed to provide -2x the daily returns of SpaceX.
SpaceX (SPCX) experienced a significant surge in premarket trading, climbing approximately 6%. This rise appears to be linked to the introduction of two new daily leveraged Exchange Traded Funds (ETFs) designed to track its performance. The ETFs, named SPCH and SSPC, are structured to offer amplified returns based on SpaceX's daily price movements. SPCH is designed to deliver twice the daily return of SpaceX's stock, while SSPC aims to provide the inverse, targeting a -2x daily return.