Want to bet against Elon Musk’s Tesla as it reports earnings? Try this ETF
Justin Sullivan

Elon Muskâs Tesla (NASDAQ:TSLA) is set to deliver earnings after the closing bell on Wednesday and a new inverse single-stock ETF allows those betting against the electric vehicle giant to put their bearish sentiment into action. 
The AXS TSLA Bear Daily ETF (NASDAQ:TSLQ) is an exchange traded fund that was generated to bet against TSLA. The fund looks to offer individual stock leverage, trading in opposite parallel to Tesla. In other words, TSLQ attempts to mirror trading in TSLA, moving the same distance in the opposite direction.
The release of the EV maker's Q2 earnings may spark increased volatility in TSLA, while also sending ripples over to TSLQ.
According to Wall Street experts, Tesla is expected to deliver revenue of $16.9B and EPS of $1.80 for a quarter disrupted by COVID-related slowdowns in Shanghai.
TSLQ hit the market just ahead of the earnings report. The ETF's short five-day trading lifespan finds it down by 5.7%. This comes as TSLA is +5.8% during that same period. Moreover, the new leveraged single stock ETF is just one of eight that has come to market by AXS Investments.
Aniket Ullal, Head, ETF Data & Analytics at CFRA outlined in a note: âThe launch of eight single stock ETFs in the U.S marks a new phase in the evolution of the U.S. ETF market and is likely the precursor of more products of this type. It opens opportunities for traders and investors with a strong directional view on a stock, particularly during periods of volatility or earnings announcements.â
See more information on AXS Investments' single stock leveraged ETFs.