Direxion Premiers Daily SpaceX Bear 2X ETF

On August 6, Direxion broadened its leveraged single-stock ETF lineup with the launch of the Direxion Daily SpaceX Bear 2X ETF (LOFD). This fund seeks daily investment results of 200% of the inverse daily performance of SpaceX (SPCX). The fund launches with an expense ratio of 97 basis points.Key Takeaways Direxion launched the Direxion Daily SpaceX Bear 2X ETF (LOFD). LOFD seeks daily investment results of 200% of the inverse daily performance of SpaceX. The launch comes just two days after SpaceX reported earnings. There, they climbed roughly 9.5% during the day before falling 10.5% following the earnings announcement of elevated AI capex spending. Direxion now offers a full bull and bear lineup across both of Elon Musk’s publicly traded companies. LOFF and LOFD provide leveraged exposure to SpaceX, while TSLL and TSLS provide amplified exposure to Tesla. Quarterly Results and Lock-Up ExpirationJust a few days after SpaceX’s historic IPO, the company reached an all-time high share price of $225.64, marking a 67.14% increase from the IPO price of $135. Since then the company has seen large declines. It fell roughly 53.54% from June highs to an all-time low of $104.83 in early August. The company reported a loss per share of -$0.09 on revenue of $7.8 billion, marking a 92% revenue increase year over year. These results beat analyst consensus of a loss per share of -$0.26 and revenue of $6.93 billion. Looking at segment revenues, the company continued to perform. Space revenue came in at $962 million, compared to an expected $835 million. Connectivity revenue drew in $4.29 billion versus estimates of $3.83 billion. The company’s AI business brought in $2.56 billion in revenue, beating the consensus estimate of $2.18 billion, according to StreetAccount. SpaceX stock climbed nearly 9.5% leading up to the report. Despite better than expected headline numbers, the stock fell 10.5% in after-hours trading after the company reported, due to soaring AI capital expenditures. The company spent $15.83 billion on AI capex in the second quarter. That reflects approximately a 105% increase compared to $7.72 billion the first quarter of 2026. The same day LOFD launches, the initial expiration of SpaceX’s post-IPO lockup begins. The lockup expiration will free up 911.5 million shares, approximately 12% of total shares for sale. That raises concerns that the added supply will keep the stock under pressure, according to Yahoo! Finance. Events like these can trigger sharp single-day moves in either direction, potentially creating the high-volatility that the Direxion Daily SpaceX Bull 2X ETF (LOFF) and LOFD are built to capture.Expanding Musk-Linked OfferingsWith the launch of LOFD, Direxion offers a full bull and bear lineup across both of Elon Musk’s publicly traded companies. Investors seeking magnified exposure to SpaceX can turn to LOFF to capture higher upside and LOFD to hedge against drawdowns. For Tesla (TSLA), bullish investors can look to the Direxion Daily TSLA Bull 2X ETF (TSLL A-). Meanwhile, the Direxion Daily TSLA Bear 1X ETF (TSLS ) provides an inverse vehicle to profit from downward price action. “A complete toolkit enables traders to act on conviction in either direction,” said Mo Sparks, chief product officer at Direxion, in a press release. “LOFF gave them a way to express the bull case on SpaceX. LOFD adds the bear side, and a way to hedge, arriving as the stock heads into a stretch of closely watched catalysts. Across Tesla and SpaceX, Direxion offers a complete bull and bear single-stock lineup and, by assets, is the largest provider of that exposure.”For more news, information, and analysis, visit the Leveraged & Inverse Content Hub.