/biz/ - Business & Finance

Buy sned and feed

>NOT A DRILL
NOT A DRILL
>NOT A DRILL
NOT A DRILL
>NOT A DRILL
NOT A DRILL
>NOT A DRILL
NOT A DRILL


NEW DIREXION 3X ETF LISTING

Today Direxion announced a new leveraged ETF set to add to its offerings - SNED & FEED. Revealed to be a 3x leveraged funds, SNED & FEED are controversial in that the holdings it tracks are determined dynamically by retail investors on minor trading websites including the infamous 4chan.

Representatives from Direxion have repeatedly affirmed that their decision is sound, one claiming that "4chan has never made a good trade - by our calculations and backtesting, SNED & FEED should be among our most competitive funds even for those looking for a long-term portfolio staple." Exact information about the expense ratio of the fund is unknown at this point but it is projected to be around 1%. When asked about the exact holdings at this point in time, Direxion asserted that "the holdings are the most random shit: oil tankers, semiconductors, small biotech companies, near-bankrupt retailers, natural gas companies, assorted penny stocks, air and cruise lines, microcap precious metal miners, Raytheon, and blue chip dividend stocks." The ETF will officially begin trading on exchanges starting Monday, December 1st.