Direxion Premiers Daily SpaceX Bear 2X ETF

Direxion launched the Daily SpaceX Bear 2X ETF (LOFD), giving traders a leveraged inverse product aimed at delivering 200% of SpaceX’s daily opposite move. The launch expands Direxion’s bull/bear toolkit around Elon Musk-linked names, complementing the existing LOFF, TSLL and TSLS offerings. The timing is notable: it comes just after SpaceX’s earnings report and as the initial post-IPO lockup begins, which could release 911.5 million shares, or about 12% of shares available for sale. SpaceX reported better-than-expected Q2 results, including revenue of $7.8 billion versus $6.93 billion expected, but the stock fell 10.5% in after-hours trading on concerns about elevated AI capex of $15.83 billion. The article frames LOFD as a way for traders to hedge downside or speculate on continued volatility in SpaceX shares.