Wall Street delivered a moderately upbeat performance last week, with theSPDR S&P 500 ETF Trust SPY delivering 1.6% returns, SPDR Dow Jones Industrial Average ETF Trust DIA advancing about 1% and Invesco QQQ Trust, Series 1 QQQ gaining 1.6%.
The release of NVIDIA NVDA earnings failed to boost the stock meaningfully. NVIDIA beat overall but offered a less lofty guidance. Shares of NVDA gained a moderate 1.9% last week (read: Forget Guidance Woes: Buy Semiconductor ETFs on NVDA's Dip).
Tesla TSLA shares gained 3.5% last week on talks that Donald Trump may ease regulations for self-driving cars. The news weighed on Uber (down 0.1%) and Lyft (down 4.4%) stocks last week, though the duo rebounded to close out the week.
However, it was a superb week for Bitcoin, artificial intelligence (AI) and gold.Note that STKD Bitcoin & Gold ETF BTGD added 16.3% last week.
Below we highlight last week’s winning leveraged exchange-traded funds (ETFs). These ETFs gained more than 25% last week.
Winning Leveraged ETFs in Focus
Defiance Daily Target 2x Long MSTR ETF (MSTX) – Up 101.4%
Shares of MicroStrategy MSTR — a leading worldwide provider of business intelligence software — jumped 22.3% last week. The stock’s gains are crypto-centric. MicroStrategy is on a Bitcoin buying spree. The technology company is the largest corporate holder of Bitcoin.
With Bitcoin’s price soaring massively this month, MicroStrategy stock, too, has surged as its purchases of this currency are paying off. MicroStrategy stock is up about 500% this year, even outperforming bitcoin itself.
Defiance Daily Target 2X Long SMCI ETF (SMCX) – Up 44.5%
Shares of Super Micro Computer Inc. SMCI stock — the manufacturer of energy-efficient, application-optimized server solutions based on the x86 architecture — gained about 65% last week. The AI-driven enthusiasm benefited Super Micro.
Supermicro — investigated for accounting violations — hired an independent auditor — BDO, the fifth-biggest public accounting firm. BDO’s solid reputation is good news for Supermicro’s stakeholders. If the filing is done on time, Supermicro’s chances of being delisted from Nasdaq diminish.
ProShares Ultra Bloomberg Natural Gas (BOIL) – Up 32.4%
U.S. natural gas prices hit a one-year high of $3.35 on Nov. 21, 2024, due to higher demand. The EIA noted that U.S. drillers are expected to raise output for the first time since the pandemic next year amid higher export capacity and global demand for U.S. LNG, per tradingeconomics.
Forecasts of colder weather have strengthened expectations for the imminent start of the storage withdrawal season. The most recent forecasts pointed to colder-than-usual temperatures on the West Coast and most of the nation besides the Gulf Coast. Supply concerns in Europe sent LNG feed gas flows to a 10-month high, curbing domestic supply.
YieldMax MSTR Option Income Strategy ETF (MSTY) – Up 30.9%
The YieldMax MSTR Option Income Strategy ETF seeks current income and exposure to the share price of the common stock of MicroStrategy Incorporated, subject to a limit on potential investment gains. The ETF surged for its income opportunity as well as chances of capital gains. The MSTY ETF yields 68.14% annually.
2x Bitcoin Strategy ETF (BITX) – Up 25.4%
Several factors are fueling Bitcoin's record-breaking run. The main factor is Trump trade. Potential initiatives under such a presidency might include: more supportive regulations for the crypto industry in place of a crackdown and the establishment of a national Bitcoin reserve.
Meanwhile, Microstrategy bought a record number of 51,780 Bitcoins between Nov. 11 and Nov. 17 for $4.6 billion, according to a U.S. Securities and Exchange Commission filing. This follows purchases of more than 27,000 Bitcoins between Oct. 31 and Nov. 10. MicroStrategy now owns around $30 billion in Bitcoin. This has bolstered enthusiasm in the cryptocurrency markets.
Last week, Crypto enthusiasts also celebrated the resignation of the SEC Chair Gary Gensler, effective January. This would pave the way for improved relations between the cryptocurrency industry and Washington regulators. During his tenure, Gary Gensler frequently clashed with major cryptocurrency companies, with the SEC filing lawsuits against industry leaders like Coinbase.
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NVIDIA Corporation (NVDA): Free Stock Analysis Report
Tesla, Inc. (TSLA): Free Stock Analysis Report
Invesco QQQ (QQQ): ETF Research Reports
SPDR S&P 500 ETF (SPY): ETF Research Reports
Super Micro Computer, Inc. (SMCI): Free Stock Analysis Report
SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports
MicroStrategy Incorporated (MSTR): Free Stock Analysis Report
ProShares Ultra Bloomberg Natural Gas (BOIL): ETF Research Reports
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