On September 2, Direxion Daily TSLA Bull 2X Shares declined 8.12% in regular trading, trading at $9.1699/share, with turnover of $689 million. As a 2x leveraged ETF tracking Tesla, the fund amplified the underlying stock's losses.

Multiple bearish catalysts converged on Tesla. In the options market, several large bearish trades were placed, headlined by a $1.344 million synthetic put combination — constructed by buying a June 2027 $300 put and selling a $600 call of the same expiry — signaling a systematic medium-term downside bet. An additional $319,000 bear call spread reinforced the dominant short positioning. Meanwhile, Tesla's broader tech peers also weakened, with the Magnificent Seven collectively falling at the open, including Tesla itself dropping 2%.

Adding to sentiment pressure, widespread complaints from owners of the Shanghai-produced Model Y L regarding rear wheel collapse have gained traction on social media. Multiple owners described the issue as a batch-level defect rather than isolated cases. Tesla has not issued a public response, with customer service only advising affected owners to book in-store inspections.

The fund normally invests at least 80% of its net assets in TSLA securities and financial instruments such as swap agreements and options that provide 2x leveraged daily exposure to TSLA. The fund is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)