🔴 2X Long LITE ETF (LITX) is trading 3.57% down today on profit-taking after Lumentum’s AI-optics rally

LITX is trading 3.57% down today after profit-taking and an intraday reversal following Lumentum’s sharp AI-optics rally.

• LITX is a daily 2x leveraged ETF tracking Lumentum Holdings (LITE), not lithium prices.
• Lumentum surged 9.59% on September 16 amid optimism around AI data-center optical networking and ECOC 2026 demonstrations.
• Despite a broader market rally on September 17, fund-specific volatility followed the previous session’s 19.36% gain; elevated valuation and the sharp advance likely amplified selling.