NVDL, SOXL, And Other Chip-Stock Tracking ETFs Are Trading Higher In Premarket Today: Here's Why

Quick Summary:

This movement also comes on the heels of Advanced Micro Devices, Inc. (NASDAQ:AMD) posting its second-quarter results which exceeded expectations and guided the current quarter's revenue above consensus.

In a recent development, chip ETFs have experienced a significant upswing as a result of President Biden’s decision to exempt some allies from the new rule governing chip exports to China.

What Happened: According to Benzinga Pro, on Wednesday, the GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL), which has 100% exposure to AMD’s peer Nvidia Corp.(NASDAQ:NVDA) saw an 11.78% increase, trading at $52.65, up ...

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Category: Technology

Markets: United StatesChinaJapanSouth KoreaNetherlands

Topics: US4642875235 Stories That Matter AMD US74347R6696 News US0079031078 Pooja Rajkumari US8166362033 Chip ETFs ETFs Pre-Market Outlook Joe Biden Tech USD China chip ban General SOXX SMH NVDL US25459W4583 NVDA US67066G1040 Sector ETFs SOXL Benzinga

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Article Type: News Report

Published On: 2024-07-31 @ 12:15:02 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 290 words

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Copyright Owner: © Benzinga

News ID: 21872598

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