Procore signs multi-year strategic collaboration agreement with AWS
NEW YORK - Tradr ETFs announced Tuesday the launch of two new single stock leveraged ETFs targeting quantum computing companies: the Tradr 2X Long QUBT Daily ETF (Cboe:QBUX) and the Tradr 2X Long RGTI Daily ETF (Cboe:RGTU).
The funds aim to deliver twice (200%) the daily performance of Quantum Computing Inc. (Nasdaq:QUBT) and Rigetti Computing Inc. (Nasdaq:RGTI) common stocks, according to a company press release.
These products follow Tradr’s earlier quantum computing offering, the 2X Long QBTS Daily ETF (Cboe:QBTX), launched in April. The company also recently introduced leveraged ETFs for Archer Aviation (NYSE:ACHR) and Upstart Holdings (Nasdaq:UPST) in early June. Archer Aviation has shown remarkable momentum, delivering a 167% return over the past year, with analysts setting price targets up to $18. According to InvestingPro, the stock exhibits high volatility with a beta of 3.13, making it particularly suitable for leveraged products.
"Both Quantum Computing Inc. and Rigetti are thrilling emerging-tech stories whose stocks exhibit traits well suited for a daily leveraged strategy," said Matt Markiewicz, Head of Product and Capital Markets at Tradr ETFs.
The new ETFs allow investors to gain leveraged exposure without using margin accounts or options trading. With these additions, Tradr’s lineup now includes 14 leveraged ETFs.
Leveraged ETFs carry significant risks, including the potential for magnified losses. The funds are designed for short-term trading rather than long-term holding, as their performance over periods longer than their specified reset period will likely differ significantly from their benchmarks. For instance, InvestingPro data shows that stocks like ACHR can experience substantial price swings, with the stock trading between $2.82 and $13.92 over the past 52 weeks. Get access to comprehensive volatility metrics and risk analysis for over 1,400 stocks with InvestingPro’s detailed research reports.
Tradr ETFs, which pioneered leveraged ETFs on single stocks in 2022 with products for Tesla and Nvidia, markets its products to sophisticated investors and professional traders seeking to express high-conviction investment views.
In other recent news, Archer Aviation has been in the spotlight following several significant developments. The company recently raised $850 million through a direct offering of 85 million shares of its Class A common stock at $10 per share, enhancing its financial position with a pro forma liquidity of approximately $2 billion. This capital raise is expected to support accelerated manufacturing and certification efforts, especially as Archer looks to participate in the eVTOL Integration Pilot Program announced by the White House.
Cantor Fitzgerald maintained its Overweight rating and $13.00 price target for Archer Aviation, citing the company’s strategic partnerships with entities like the Department of Defense and United Airlines as vital for advancing commercialization efforts. The firm also emphasized the importance of Archer’s recent successful piloted test flight of its Midnight aircraft, which achieved a cruising speed of 125 mph and a maximum altitude exceeding 1,500 feet. Canaccord Genuity also maintained a Buy rating on Archer while adjusting its price target to $13.00 from $13.50 following the capital raise.
The new funding follows executive orders from President Trump aimed at boosting the electric air taxi industry, which may have facilitated Archer’s ability to attract investors. Archer’s partnerships and recent achievements in test flights are seen as crucial steps toward its goal of establishing an air taxi network, particularly in urban areas like New York City in collaboration with United Airlines. These developments underscore Archer Aviation’s progress in the growing electric vertical takeoff and landing sector.
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