AAPB Stock Summary and Trading Ideas (Graniteshares 2X Long Aapl Daily ETF | NASDAQ:AAPB)

The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Apple Inc. The Fund is an actively managed exchange traded fund that attempts to replicate 2 times (200%) the daily percentage change of the Underlying Stock by entering into a swap agreement on the Underlying Stock. The Fund aims to generate 2 times the daily performance of the Underlying Stock for a single day. A "single day" is defined as being calculated "from the close of regular trading on one trading day to the close on the next trading day." Apple is an American multinational company based in California that creates and markets electronic products, computers and software. The company's flagship products include the iPhone, the iPad, and the Macbook computer. Apple stores are present in 25 countries, and their website delivers to more than 39 countries.

Graniteshares 2X Long Aapl Daily ETF trades on the NASDAQ stock market under the symbol AAPB.

As of May 9, 2024, AAPB stock price climbed to $19.90 with 220,110 million shares trading.

AAPB has a beta of 2.02, meaning it tends to be more sensitive to market movements. AAPB has a correlation of 0.34 to the broad based SPY ETF.

AAPB has a market cap of $16.91 million. This is considered a Sub-Micro Cap stock.

AAPB has underperformed the market in the last year with a return of +0.4%, while the SPY ETF gained +28.2%. In the last 3 month period, AAPB fell short of the market, returning -8.4%, while SPY returned +4.1%. However, in the most recent 2 weeks AAPB has outperformed the stock market by returning +16.9%, while SPY returned +3.3%.

AAPB support price is $18.99 and resistance is $20.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AAPB stock will trade within this expected range on the day.