Quick Read – TQQQ crashed 14% Friday as its 3x daily leverage tripled QQQ’s 5% loss, turning a $10,000 position into roughly $8,570. – QQQ’s worst day since April 2025 had two triggers: Broadcom’s light AI revenue guidance and May payrolls of 172,000 versus an 80,000 estimate. -…
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If you owned ProShares UltraPro QQQ (NASDAQ:TQQQ) into the close on Friday, you watched a position open near $85.22 and finish at $73.05, a 14.28% single-day drawdown that turned a $10,000 position into something like $8,570 before the weekend started. The underlying, Invesco QQQ Trust (NASDAQ:QQQ), fell 4.8% on the same session, its worst day since April 2025. The 3x daily leveraged wrapper did exactly what the prospectus says it will do, and that explains most, but not all, of what happened.
The Arithmetic of a 3x Daily Wrapper on a Bad Friday TQQQ is built to deliver three times the daily return of the Nasdaq-100, before fees, with a 0.82% expense ratio doing its slow work over time. On a session where QQQ closes down roughly 5% from the prior close (the published intraday figure was -4.8% against an open near $740.61), the math on the leveraged sleeve lands in the neighborhood of a 14% to 15% loss. You got the textbook outcome.