LITX is trading at $40.57, down 7.86%, as optical communications stocks extend their premarket decline. - Coherent is down over 3% premarket, while Lumentum, Credo, Corning and Marvell are also lower. Weak sector sentiment and reassessment of AI-optics demand and technology shifts added pressure. - Higher Treasury yields, elevated oil prices and Fed minutes suggesting another hike could be appropriate weighed on risk appetite, especially in high-beta technology stocks. - LITX’s 2× daily exposure can amplify moves in its underlying holdings.