T-REX 2X Long SNOW Daily Target ETF (SNOU)

T-REX 2X Long SNOW Daily Target ETF (SNOU) seeks daily investment results, before fees and expenses, equal to two times the daily performance of the common stock of Snowflake Inc. It is a single-stock leveraged fund sponsored by REX Shares and Tuttle Capital Management under the T-REX brand, and its objective resets every trading day.

The fund obtains its exposure mainly through swap agreements and other derivatives on the underlying shares rather than simply holding the stock, keeping the remaining assets in cash and short-term instruments as collateral. Because the multiple applies to each day separately, results over periods longer than one day can differ meaningfully from two times the stock's return over the same period.

The underlying company: Snowflake provides a cloud-based data platform that lets organizations store, analyze, share and build applications on their data across major public clouds.