Artificial intelligence (AI) stocks have been on a wild ride of late, but one of the steadier hands in the mega-cap AI trade has been Google parent Alphabet (GOOGL), shares of which are higher by nearly 22% over the past month.
Google's stock is following its Magnificent Seven peers lower so far this year. But it could be a potential buy if certain factors end up working in the search engine giant's favor.
Google's current growth story, like its other big tech peers, will center around artificial intelligence (AI) as its main protagonist. Short-term questions also remain, but it creates an opportunity for traders to play the stock regardless if it heads up or down.
The Direxion Daily GOOGL Bull 2X Shares ETF aims to provide a daily 200% return compared to Alphabet GOOGL stock. Leveraged ETFs like GGLL come with risks, including volatility decay and the potential for significant losses. Momentum indicators suggest a short-term opportunity to invest in GGLL, but caution is advised due to the risks involved.