November 12, 2024

Tesla, MicroStrategy ETFs Soar by 90% After Election

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Some of the largest single-stock exchange-traded funds have seen eye-popping gains since Trump’s election victory last week.

ETFs tied to Tesla, Palantir, and MicroStrategy have surged as much as 90% over just the past four trading sessions, fueling a handsome payday for the many retail investors who had flocked to the funds over the past several months.

At the top of the pack is MicroStrategy, the bitcoin holding company with a software side business. Shares of the company jumped over 40% since Election Day, powered by a 23% gain in the price of bitcoin.

In turn, the T-Rex 2X Long MSTR Daily Target ETF (MSTU) and the Defiance Daily Target 2x Long MSTR ETF (MSTX) gained just shy of 90% in that same time period (including a 40% spike on Monday alone).

The two ETFs have around $2.5 billion in combined assets under management thanks to a combination of strong performance and combined inflows of $800 million this year.

Then there is Tesla, the electric vehicle maker headed by Elon Musk. Shares of the stock are up 35% since last Tuesday as investors speculate that Musk’s close relationship with president-elect Donald Trump will benefit his company.

The Direxion Daily TSLA Bull 2X Shares (TSLL), which has around $3.5 billion in AUM, rose almost 80% since Trump’s win. Investors have poured $637 million into the fund in 2024.

Another favorite among retail investors is Palantir, the developer of AI software applications that are used by businesses and government agencies like the FBI.

Palantir’s stock is up 18% since last Tuesday, while the GraniteShares 2x Long PLTR Daily ETF (PTIR), which has close to $60 million in AUM, is up by 38%.

The largest single-stock ETF by assets under management—the GraniteShares 2x Long NVDA Daily ETF (NVDL)—hasn’t risen nearly as much as the aforementioned ETFs tied to MicroStrategy, Tesla, and Palantir, but it’s still up around 7% since Election Day.

It also remains the second-best-performing ETF of the year, with a 457% gain—trailing only the 510% gain for another Nvidia ETF, the T-Rex 2X Long Nvidia Daily Target ETF (NVDX).

Inflows for NVDL have totaled an impressive $2.6 billion this year.

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