Stock Track | Direxion Daily MU Bull 2X Shares Plunges 7.18% in Pre-Market as Investors Take Profits After Micron's Historic Rally

Stock Track05-28

Direxion Daily MU Bull 2X Shares (MUU) experienced a significant pre-market plunge of 7.18% on Thursday. The leveraged exchange-traded fund, which seeks to deliver twice the daily performance of Micron Technology Inc., saw its price retreat sharply during the pre-market session.

Analysts attribute the decline to natural market retracement and profit-taking activity following Micron Technology's historic rally earlier in the week. The underlying asset, Micron Technology, surged approximately 19% in a single session after UBS Group dramatically raised its price target from $535 to $1,625—the largest single analyst price target increase in semiconductor coverage history—pushing Micron's market capitalization above $1 trillion for the first time.

As a 2x leveraged product, MUU amplifies both the gains and losses of its reference asset. Market participants noted elevated caution toward technology stocks that had seen consecutive surges, with the pullback reflecting profit-taking pressure after parabolic moves. The decline follows cumulative gains exceeding 20% across two sessions in Micron's stock, suggesting investors were locking in profits after the sharp advance driven by optimistic analyst reports on AI-driven memory demand.

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