🔴 Industrials ETF (WARP) is trading 1.96% down in pre-market amid possible profit-taking

WARP is trading at $20.70, down 1.96% from the September 21 close; the decline appears ETF-specific, with evidence pointing to profit-taking.

• Communication services gained 3.86% on September 21, led by Meta and broader AI optimism; overnight futures show only modest weakness.
• Meta’s Muse traction and Petal subsea-cable announcement supported communication-services sentiment, not WARP’s decline.
• Evidence points to profit-taking, liquidity, or basket-specific repositioning after WARP’s 3.78% September 21 gain, not a broad sector selloff.