When SpaceX (NASDAQ: SPCX) priced its IPO at $135 per share and began trading on Nasdaq on June 12, it did not just make history as the largest IPO ever recorded, with a valuation of nearly $1.77 trillion. It set off one of the fastest waves of leveraged ETF launches the market has ever seen. Within days of the listing, no fewer than eight leveraged and inverse ETFs tied to SpaceX hit the market, as issuers raced to give traders amplified ways to play one of the most anticipated and volatile new stocks in years.
For traders with a larger risk appetite, these products offer a way to express a strong directional view on SpaceX, both bullish and bearish. Two of the most notable are the Defiance Daily Target 2X Long SpaceX ETF (NYSEAMERICAN: SPCU) on the long side, and the Leverage Shares 2X Short SPCX Daily ETF (NYSEAMERICAN: SSPC) on the short side.
