Retail Traders Burnt on Both Sides of April’s Chip Rip: ETF IQ
SOXL and SOXS saw billions of dollars in wrong-way bets in April
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Welcome to ETF IQ, a weekly newsletter dedicated to the $19 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld.
April was an incredible month. Big tech reasserted itself, sparking a market-wide turnaround that most benefited the ecosystem of chipmakers supplying the AI revolution: the Philadelphia Semiconductor Index soared 38% in April, its best monthly showing since February 2000.