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SQQQ · Analysis updated Nov 6, 2026, 9:54 AM ET
Why is ProShares UltraPro Short QQQ (SQQQ) stock moving?
SQQQ is a -3x daily inverse fund on the Nasdaq-100. It closed at $49.55 on Nov 5, up about 19% from $41.56, on volume of 116M shares, roughly double its average. The Nasdaq 100 fell 6.3% in its worst session since April 2025. Weak Qualcomm and Arm earnings, fears that Democratic midterm gains will bring tighter AI rules and data-center limits, and AI financing worries all contributed. About $2.3T of market value was erased. On Nov 6 the Nasdaq was trying to recover as buyers returned to chip stocks. SQQQ was near $47.5, about 4% below the Nov 5 close, which points to a partial rebound in tech. Cross-asset stress in credit and in AI-linked borrowers such as CoreWeave adds to the downside case for the Nasdaq. Even so, sharp one-day crashes are often followed by violent rebounds, and those hurt a -3x inverse fund. The fund resets daily, so volatility decay makes it a poor vehicle to hold through choppy markets. The fund is also well below its 52-week high of $90.72, and it has fallen about 37% to 38% year to date.
News behind the analysis
- Nasdaq attempts to recover from worst rout in 19 months as AI stocks see some buying: Live updatesThe Nasdaq Composite rebounded on Friday as some investors bought chip stocks after a sell-off that pushed the index into correction territory.
- Stocks plunge as election outcome and AI worries crush tech sharesThe Nasdaq 100 fell 6.3% on Nov 5, erasing $2.3 trillion in market value. Weak Qualcomm and Arm earnings and election-related AI worries drove the drop.
- Tech stocks tumble as election rattles AI tradeThe Nasdaq Composite fell as much as 5.55% on Nov 5 as AI and data-center stocks sold off. The drop was the worst since the April 2025 tariff panic.
- Stock Market Today: Nasdaq Crashes 5.5% as Midterm Fallout Turns Into a Brutal AI Chip SelloffThe Nasdaq had its worst day since April 2025 on fears of tighter AI regulation after the Democratic midterm win.
- Nvidia Stock Tumbles Alongside Qualcomm, Pushing Nasdaq to Its Worst Session Since April 2025Nvidia and Qualcomm fell more than 9% in a global semiconductor sell-off. Investors questioned the cost and financing of AI infrastructure.
- Nasdaq 100 drops over 1,000 points as tech stocks sell offThe Nasdaq 100 broke below 27,500 and briefly dipped under 27,000. Money moved into healthcare and consumer staples.
- Nasdaq Sell-Off: Technology Stocks Suffer Heavy LossesUS100 futures fell more than 4.5% to their lowest level since July 30, 2026. CoreWeave fell more than 8% and credit markets showed stress.
- ProShares UltraPro Short QQQ (SQQQ) Stock Price: Nov 4 Close $41.56SQQQ rose about 18.8% to $49.38 late on Nov 5, with volume above 107M shares.
- ProShares UltraPro Short QQQ (SQQQ) on RobinhoodOn Nov 6, SQQQ traded near $47.53, below Nov 5's high. Early volume was 11.25M against a 57M average.