The SpaceX (NASDAQ:SPCX) stock price climbed 19% on Friday when it landed on the Nasdaq. Today, it gets some company, with the launch of the Defiance Daily Target 2X Long SpaceX ETF (SPCU) this morning. Defiance ETFs’ newest fund is designed to double whatever the SpaceX stock price does in a single trading session.
At a high level, the concept of how it works in practice is fairly simple. If the SpaceX stock price climbs 5% on the day, the SPCU ETF aims to deliver a one-day return of around 10%. If it drops 5%, the fund aims to fall around 10%. Two times the move of SpaceX stock, in either direction, before fees.
The Daily SpaceX Stock Price Reset
Then there’s the important component that can catch people off guard if…
