Key facts
- SpaceX shares surged 10.6% in premarket trading.
- The stock had previously jumped over 19% in the last session.
- Two new leveraged ETFs, SPCH and SSPC, have been launched.
- SPCH targets 2x daily returns of SpaceX, while SSPC targets -2x daily returns.
SpaceX shares experienced a significant premarket increase of 10.6%, following a substantial jump of over 19% in the previous trading session. The surge is linked to the introduction of two new daily leveraged Exchange Traded Funds (ETFs), SPCH and SSPC, designed to track the company's performance. SPCH aims to deliver twice the daily return of SpaceX's stock, while SSPC is structured to provide the inverse, targeting a -2x daily return.