GraniteShares 2x Short TSLA Daily ETF (TSDD)
GraniteShares 2x Short TSLA Daily ETF operates in the Asset Management industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $10.23, up 3.23% on the session, giving a market capitalisation of $29.4M. Its beta of -2.22 implies it has historically moved less than the broad market.
TSDD is a short-term tactical tool that aims to deliver -2x the price return, less fees and expenses, for a single day of Tesla stock. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the -2x multiple. Aside from the inverse leverage exposure, compared to traditional ETFs, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending, and holders are on the positive corresponding side of that trade. However, the shares provide the advantage of capping the maximum loss to the full amount invested. Prior to January 22, 2024, the fund traded under the name GraniteShares 1.5x Short TSLA Daily ETF.
GraniteShares 2x Short TSLA Daily ETF is most often compared with the following Financial Services names: