Korean Retail Investors Lose Big on 3x Semiconductor ETF as SOXL Falls 73%

Cointime reports: Korean retail investors bought a net $4.28 billion (about 5.79 trillion won) of the Direxion Daily Semiconductor Bull 3X ETF (SOXL) between October 1 and November 5. Over the same period SOXL plunged 73.41%, from $153.69 to $40.87, as semiconductor stocks sold off amid a “blue wave” in the US midterm elections. A further $1.31 billion flowed in this month even as the decline continued.