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SOGU (AXS Short De-SPAC Daily ETF) is no longer actively trading.
This usually means the company was acquired and taken private, delisted from its exchange, or its ticker has been retired. Every price, valuation, dividend, and analyst figure on this page is frozen at the last available trading session and reads as historical reference — not a current-day signal.
On Monday, news broke that seven ETFs offering leveraged or inverse exposure to individual stocks would close in June. They will be the first single-stock ETFs to close.
A tech bear market may well come again in 2023. The technology sector (most of the Nasdaq-listed companies) has experienced a large increase over the past couple of months, most notably in January 2023.
Wall Street was downbeat last week as recessionary fears mounted on steeper Fed rate hikes. Rate hikes have been rampant globally.
Little-known SOGU is the #1 unleveraged ETF YTD and #1 top-ranked ticker in the entire Seeking Alpha Quant Ratings asset universe of 2,008 ETFs. As the only ETF that tracks the inverse of the performance of post-SPAC merger (or de-SPAC) companies, SOGU is a way to profit from the problems in the SPAC world.
The Dow Jones Industrial Average and the S&P 500 are close to logging their worst 100 days since 1970. Still, these ETFs stood tall.
The bloodbath that started in Wall Street on Nov 26 on news of the Omicron variant of the COVID-19 stretched last week also.
Wall Street was subdued last week due to the Fed's taper talks, the spread of the COVID-19 delta variant and China's persistent crackdown on its tech sector.
Last week was moderate for Wall Street. Though multiple states in the United States have lifted COVID-19 restrictions, almost half of United States reported rising cases recently.