The
Direxion Daily CSI China Internet Bull 2X Shares (CWEB) topped $100 recently, cresting 43% past its high set over three years ago. With China surpassing one billion internet users, according to a CNBC article, it’s easy to see why.
“New data show the extent to which Chinese people went online in the wake of the coronavirus pandemic and adopted new habits, such as shopping through video livestreams,” the article explained. “By the end of 2020, China had 989 million internet users, according to figures released Wednesday by government agency China Internet Network Information Center (CNNIC).”
CWEB seeks daily investment results equal to 200% of the daily performance of the CSI Overseas China Internet Index, which is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors.
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