--- title: "Weekly Recap | NBIS 2X Long ETF -26.28%, earnings fade after spike" type: "News" locale: "en" url: "https://longbridge.com/en/news/305525149.md" description: "The NBIS 2X Long ETF (NEBX.US) fell 26.28% on the week to close at $5.05, while the S&P 500 added 2.51% — a gap of roughly 28.79 percentage points. The move was a classic spike-and-fade: the fund opened Monday at $7.04, pushed up to a weekly high of $10.09 on Wednesday, then gapped lower on Thursday and kept sliding. Friday’s low of $4.37 marked the weakest level of the five sessions. Turnover was heavy, with daily volume running about 2.8 times the 60-session median." datetime: "2026-11-14T04:35:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/305525149.md) - [en](https://longbridge.com/en/news/305525149.md) - [zh-HK](https://longbridge.com/zh-HK/news/305525149.md) generator: "portal-rs" --- # Weekly Recap | NBIS 2X Long ETF -26.28%, earnings fade after spike ## The Week The NBIS 2X Long ETF (NEBX.US) fell 26.28% on the week to close at $5.05, while the S&P 500 added 2.51% — a gap of roughly 28.79 percentage points. The move was a classic spike-and-fade: the fund opened Monday at $7.04, pushed up to a weekly high of $10.09 on Wednesday, then gapped lower on Thursday and kept sliding. Friday’s low of $4.37 marked the weakest level of the five sessions. Turnover was heavy, with daily volume running about 2.8 times the 60-session median. ## Nebius This Week The underlying holding, Nebius (NBIS), lost 10.51% to close at $115.88. It followed the same path as the ETF: a three-day climb into Wednesday’s high of $160.21, then a sharp reversal on Thursday and further weakness into Friday’s low of $109.00. The stock’s weekly range was 38.98%, and daily turnover came in roughly 1.3 times the prior median, confirming the heavy selling pressure. ## Leverage & Decay NEBX.US aims to deliver twice the daily move in Nebius, and this week is a clean illustration of how that differs from twice the weekly move. With the underlying down 10.51% over the week, a straightforward 2x calculation would imply about -21.02%. The fund actually fell 26.28%, a gap of roughly 5.26 percentage points. The reason is daily rebalancing: the fund resets its exposure every session, so compounding works in its favour during a straight-line move but works against it during choppy, two-way action. This week had both — a three-day rebound followed by a two-day rout — and the path-dependent drag pushed the actual loss well beyond the simple 2x mark. Holding a leveraged fund over time is not the same as taking 2x the underlying’s weekly return; the mechanics make that clear. ## Nebius News The dominant story was Thursday’s third-quarter report. Nebius posted revenue up 571% year over year, adjusted EBITDA of $465.8 million, and a net loss narrowed 69% to $37.5 million — all comfortably ahead of expectations. Yet the stock sold off hard after management trimmed full-year 2026 guidance to the low end of the range and raised its capex plan. The slide was compounded by the abrupt resignation of Nvidia CEO Jensen Huang, which rattled AI and data-centre names across the board. One analyst called the quarter’s data-centre delivery delay a ‘slight blemish’ on an otherwise strong print, citing customer prepayments as support for the $12 billion-$13 billion 2027 revenue outlook. ## Nebius — Analyst Ratings Twenty-three brokers cover Nebius. Thirteen rate it buy, two overweight, six hold, one sell, and one has no opinion; none rate it underweight. The consensus recommendation is buy, with a consensus target of $254.70 — about 119.8% above Friday’s close of $115.88. The target range is wide, from $84.00 at the low end to $399.00 at the high end, which points to meaningful disagreement about how far the stock can run. Among 49 names in the system-software industry, Nebius sits 14th by rating rank. ## The Week Ahead The macro calendar is busy: the New York Fed manufacturing index lands Monday, followed Tuesday by retail sales, retail sales ex-autos, import prices, industrial production and the NAHB housing market index. For a leveraged fund, though, the real watch item is Nebius itself — whether the post-earnings selling resumes, and how long the Nvidia leadership shock keeps weighing on AI sentiment. Also worth tracking: the options market shows notable open interest at the $125 call expiring 20 November, with 1,879 contracts printed in a single trade and a put/call ratio of 0.50, below the 20-session average. ## In Short NEBX.US was hit by a combination of a disappointing Nebius guidance reset and a broader AI-sector shake-up, with daily rebalancing adding to the downside. The sell-side picture is mixed: the consensus rating on Nebius is still buy and the target sits well above spot, but the spread between the highest and lowest targets signals real disagreement. The latest single-session money-flow snapshot shows large and medium orders on the net-buy side while small orders were net sellers, so conviction is uneven across account types. The question now is whether Nebius can steady near $110 and whether AI-sector volatility keeps pushing the fund’s daily swings wider. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [NEBX.US](https://longbridge.com/en/quote/NEBX.US.md) ## Related News & Research - [Nebius tests the neocloud playbook with $40 billion in planned spending](https://longbridge.com/en/news/305373407.md) - [Prediction: Nebius Stock Will Surge 95% in a Year, According to Wall Street. 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