Direxion S&P Biotech Bull 3X ETF (LABU)

[THREE-DAY-TRADER]

RS with these 3x funds is irrelevant. That issue does not affect sector based Funds like LABU. It's a common myth that they do in cases such as $LABU.
They open everyday the same based on its underlying tracking components (biotechs sector holdings) regardless of any splits.
Performance is never affected by Rev Splits on 3x funds, & if you look at long term charts you will see that when cross referencing split dates that they open & trade based purely 100% mimicking only the underlying components or index. Instead people should only worry about downside for the underlying components (biotech) sector and the fund's decay rates which vary at different times.

When they Rev Split, they recapitalize like any reverse or forward split stock, and the value and market cap stay same into next trading day, and then they trade same as the prior days based only on it's underlying fund stock components % movement. It's Not the same as penny stocks or regular common share stocks that people otherwise trade and therefore tend to sell off based on the psychology of the split news.
That issue does not affect sector based Funds like LABU. It's a common myth that they do.