AAPD Stock Summary and Trading Ideas (Direxion Daily Aapl Bear 1X | NASDAQ:AAPD)

The Direxion Daily AAPL Bear 1X Shares (AAPD) seeks daily inverse investment results and is very different from most other exchange-traded funds. The pursuit of daily inverse investment goals means that the return of the fund for a period longer than a full trading day may have no resemblance to -100% of the return of the common shares of Apple Inc. (NASDAQ: AAPL) This means that the return of the fund for a period longer than a trading day will be the result of each single day's compounded return over the period, which will very likely differ from -100% of the return of AAPL for that period. Longer holding periods and higher volatility of AAPL increase the impact of compounding on an investor's returns. During periods of higher volatility, the volatility of AAPL may affect the fund's return as much as, or more than, the return of AAPL. Further, the return for investors that invest for periods longer or shorter than a trading day should not be expected to be -100% of the performance of AAPL for the period.

Direxion Daily Aapl Bear 1X trades on the NASDAQ stock market under the symbol AAPD.

As of April 24, 2024, AAPD stock price declined to $23.05 with 265,954 million shares trading.

AAPD has a beta of -1.13, meaning it tends to be less sensitive to market movements. AAPD has a correlation of 0.39 to the broad based SPY ETF.

AAPD has a market cap of $35.15 million. This is considered a Sub-Micro Cap stock.

AAPD stock has underperformed the market in the last year with a return of +1.0%, while SPY returned +24.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in AAPD shares. However, AAPD has outperformed the market in the last 3 month and 2 week periods, returning +16.5% and +0.4%, while SPY returned +4.6% and -2.7%, respectively. This indicates AAPD has been having a stronger performance recently.

AAPD support price is $23.04 and resistance is $23.58 (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 AAPD stock will trade within this expected range on the day.