Tesla Stock Surges Over 17% As Short ETF Plummets

According to BlockBeats, on October 24, Tesla (TSLA.O) experienced a significant rise in its stock price, surpassing $250 and marking an intraday increase of over 17%. This surge in Tesla's stock has had notable effects on related financial instruments. In particular, a double short Tesla ETF, which aims to profit from declines in Tesla's stock, faced substantial volatility. The ETF was temporarily halted due to excessive volatility and is currently down by 32%. This dramatic movement highlights the high-risk nature of leveraged ETFs and the impact of Tesla's stock performance on these financial products.