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ProShares Ultra SK Hynix ETF plunges 12% amid SK Hynix ADR's revenue miss and daily reset decay.

Market News
07 Aug 2026
24/7 Wall Street
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Bearish
ProShares Ultra SK Hynix ETF plunges 12% amid SK Hynix ADR's revenue miss and daily reset decay.

The ProShares Ultra SK Hynix ETF (SKHU), a leveraged fund aiming to deliver twice the daily return of SK Hynix's US-listed ADR, dropped 12% in one session and has lost 52% since its July 14, 2026 launch. This steep decline is due to SK Hynix's preliminary Q2 revenue missing high market expectations despite strong year-over-year growth, combined with the fund's daily reset mechanism that amplifies losses in volatile stocks. SKHU's structure and fees make it more suitable for short-term trading rather than long-term holding, as daily compounding can erode value even if the underlying stock recovers. Meanwhile, peer Micron Technology shows strong gains, highlighting the risks of single-stock leveraged ETFs in volatile sectors like AI memory.

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