HERO is trading 4.2% down today as the ETF faces pressure from sector rotation within the technology and communication services space despite a broader recovery in the tech complex.
- While strength in Microsoft and Amazon is supporting the Nasdaq, weakness in Apple and concerns over aggressive AI-related spending are weighing on growth-oriented names.
- Investors are digesting a mixed slate of mega-cap earnings alongside a softer macroeconomic backdrop and slower GDP growth, dragging the video games and esports sector lower.