Investors flocked back to the tech behemoths that had triggered a sell-off earlier in the week, propelling Wall Street's major indexes to a higher close on Friday. The Dow Jones Industrial Average surged more than 1.6%, while both the S&P 500 and NASDAQ ended just above 1%. Amid this resurgence, five of the so-called Magnificent Seven stocks rose, with Meta Platforms leading the pack with a gain of over 22%. However, Tesla and Alphabet, whose lackluster earnings had sparked Wednesday's market rout, remained the outliers.
Welcome to Inside ETFs, where today we dive into the fascinating world of single-stock leveraged ETFs. Our guest, Will Ryan, the founder and CEO of Granite Shares, sheds light on the meteoric rise of these financial instruments, particularly those linked to NVIDIA, one of the "Magnificent Seven" stocks.