SpaceX priced its initial public offering at $135 per share and begins trading today under the ticker SPCX. At that price, the company is valued at approximately $1.77 trillion, which according to reports ranks as the largest U.S. IPO in history by debut market value.
By establishing its SpaceX exposure at the $135 IPO price, rather than at the price at which the shares first open in public trading, SPCL provides active traders 2X daily leveraged SpaceX exposure from the open.
For full fund details, the prospectus, holdings, and performance current to the most recent month-end, visit defianceetfs.com/spcl or call 833.333.9383.An investment in SPCL is not a direct investment in the underlying securities. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the performance of the Target Portfolio and is designed strictly for short-term use. For periods longer than a single day, the Fund's performance will be the result of compounded daily returns, which is very likely to differ from 200% of the return of the Target Portfolio over the same period. It is possible that investors could lose their entire principal within a single trading day.
Important Disclosures
Defiance ETFs LLC is the ETF sponsor. The Fund's investment adviser is Tidal Investments LLC ("Tidal" or the "Adviser").
The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information and can be obtained by calling 833.333.9383 or by visiting defianceetfs.com/spcl. Please read the prospectus and summary prospectus carefully before investing.
An investment in the Fund involves a high degree of risk. An investor could lose the full principal value of his or her investment within a single day.
Strategy and Reconstitution Risk. The Fund is actively managed and, per its ...
