(https://www.cnbc.com/2026/05/12/small-investors-are-piling-into-this-etf-what-the-frenzy-is-all-about.html) — and now a leveraged version is launching. I've seen this movie. It ends the same way every time. Retail crowding into a leveraged single-sector ETF isn't a momentum signal — it's one of the cleanest institutional exit signals in the playbook.

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