Cloud computing has been a hot investment area lately due to the increased demand and huge stock market profits of industry players. This is a process of storing data or software outside of a computer but which can be easily accessed anytime, anywhere via the Internet. This idea is effective as it helps companies lower their IT costs by eliminating servers and associated maintenance costs.
Cloud computing also offers better accessibility. Since everything is on the Internet, users can access data or documents at any time. Needless to say, such benefits have given the pandemic an edge when much of the world is working, learning, shopping from home.
No wonder Direxion recently launched bull-and-bear leveraged cloud computing ETFs for investors so you can place bold bets on the ups and downs of this high-potential industry. The move is fairly new as there was no leveraged ETF for this niche concept.
Within the newly launched ETFs