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GraniteShares, which offers a range of 3x short and 3x leveraged exchange-traded products (ETPs), has seen a 287 per cent surge in trading in its Meta Platforms 3x short ETP.
The stock market value of Meta Platforms fell by more than £230 billion last week when its share price slumped by 26.4 per cent.
However, GraniteShares range of singe stock and index ETPs have seen an increase in trading.
Its FAANG (Meta, formerly Facebook, Amazon, Apple, Netflix and Alphabet, formerly Google), GAFAM (Google, Apple, Facebook, Amazon, Microsoft) and FATANG (FAANG plus Tesla) product suite, offers long, short and 3X leveraged ETFs on FAANG, GAFAM and FATANG indices and can be traded in a single ticker symbol via ordinary brokerage accounts.
Market turmoil since the start of 2022 has driven a 166 per cent rise in trading in GraniteShares range of short ETPs on popular stocks amid the recent market sell off, according to the ETP provider.
Investors have been selling more speculative assets such as unprofitable technology companies, cryptocurrencies and meme stocks.
Will Rhind, founder and CEO at GraniteShares says: “The share price drop at Meta Platforms has triggered a surge in trading on our Short ETPs, underlining how sophisticated investors are willing to take action in volatile markets to hedge risk or to profit from falling prices.
“Short ETPs are fast becoming a popular product in the sophisticated active investor toolkit amid the volatile market swings on both the long and short sides we have witnessed this earnings season.”
