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Direxion Daily AVGO Bull 2X targets 200% daily returns of Broadcom
Broadcom closed just over $350 on Sept. 24, about $300 below Morningstar’s $650 fair value estimate, according to ETF Trends.
ETF Trends highlighted the Direxion Daily AVGO Bull 2X, a single-stock ETF designed to deliver 200% of the daily returns of Broadcom shares.
The outlet said Broadcom closed just over $350 on Thursday, Sept. 24, implying a significant discount versus Morningstar’s fair value estimate of $650.
ETF Trends also pointed to Morningstar’s William Kerwin, who said Broadcom helps co-design chips for AI processing tailored to specific customers, models, and applications, supporting an “AI-infused” case for Broadcom.
The article described using the leveraged AVL as an occasional strategy for risk-aware, short-term traders if the gap between the stock and fair value narrows.