SPXS is trading at $24.67, up +3.18%, as pre-market broad-market weakness is consistent with its inverse strategy. - SPXS is designed to target 300% of the inverse of the S&P 500’s daily performance. - The S&P 500 was down 1.05% and Nasdaq down 1.81% pre-market. - Reuters reported weaker Asian equities overnight amid AI-spending worries and Gulf tensions weighing on risk sentiment. No SPXS-specific catalyst or pre-market volume figure was found.