Leveraged Tesla, Apple funds among new single-stock ETFs

$Tesla (TSLA.US)$ and $Apple (AAPL.US)$ investors are about to get more ETFs that amplify bets on the companies, among a number of single-stock products entering the market this week.

Direxion and GraniteShares are each launching four exchange-traded funds that allow investors to make leveraged or inverse bets on the daily performance of individual companies. They are both starting leveraged and inverse Tesla funds as well as leveraged Apple products. Direxion is also introducing an inverse Apple fund, while GraniteShares is debuting a leveraged $Coinbase (COIN.US)$ ETF.

The first single-stock products in the US were launched by AXS Investments last month, even as regulators warned of their risks to investors and markets. Many of those ETFs from AXS Investments track retail favorites like $Tesla (TSLA.US)$, $NVIDIA (NVDA.US)$, and $PayPal (PYPL.US)$ -- stocks that grew in popularity during the pandemic but have since suffered steep losses during the market downturn.