Key Highlights

  • The fund rose 9.02% to $3.93 as screened on Friday, October 23, 2026.
  • Halving that move implies FormFactor rebounded about 4.5%, a calculated figure.
  • FormFactor closed down 15.29% at $95.03 on Thursday, October 22, valuing it near $7.42 billion.
  • FormFactor reports fiscal third-quarter results on Wednesday, October 28.
  • The fund's price of $3.93 compares with $7.91 on October 8, a calculated decline of about 50%.

FOMG Rebound: Why Did the Fund Rise 9.02% After a Sharp Fall?

Leverage Shares 2X Long FORM Daily ETF (CBOE:FOMG) rose 9.02% to $3.93 as screened on Friday, October 23, 2026. The fund seeks twice the daily return of FormFactor (NASDAQ:FORM), so the gain implies the stock rebounded about 4.5%, a calculated estimate before fees.

The rebound follows a hard fall. FormFactor closed down 15.29% at $95.03 on Thursday, October 22, when the Nasdaq Composite fell 2.60% and Nvidia (NASDAQ:NVDA) dropped 4.40%. No company-specific item explains that decline, and the only company news that day was the opening of a new probe card plant in Farmers Branch, Texas.

Leveraged funds on several other chip names were screened down between roughly 13% and 21%, which points to a sector move rather than a FormFactor problem.

FormFactor Business: What Does It Sell and Who Is Backing It?

FormFactor designs and sells probe cards, analytical probes, probe stations and thermal and cryogenic systems used to test semiconductors. The Texas facility was opened to support growing demand for advanced probe cards.

On October 12, FormFactor and Teradyne (NASDAQ:TER) announced a strategic collaboration on next-generation chip testing, and a $300 million investment from Teradyne was reported. A research firm lowered its target to $150 from $165 around October 19, a data point rather than a recommendation.

The company has 2,153 employees and was founded in 1993. Its market value of about $7.42 billion is up about 118% from a year earlier.

Sector Backdrop: Why Have Chip Stocks Been So Volatile?

Chip shares fell 11.4% during the week of October 12 after hot September inflation lifted bets on higher rates and raised doubts about AI financing. A rebound followed on October 19, but Thursday's sell-off showed how fragile sentiment remains.

Test and equipment makers sit close to capital spending by chip and cloud customers. Meta (NASDAQ:META) narrowed its 2026 capital spending to $135 billion to $145 billion on October 21, while concern about how such outlays are funded pressured AI stocks.

FOMG Structure: What Does Half-Price Say About Leverage and Volatility?

FOMG is issued by Leverage Shares, began trading on June 23, 2026, and charges a 0.75% expense ratio, with about $566,000 in assets. As of October 19 its holdings were three FormFactor swap positions totaling about 200% of net assets plus a Treasury obligations fund.

The fund closed at $7.91 on October 8 and is now at $3.93, a calculated drop of about 50%, which shows how daily reset and compounding can magnify losses in a volatile stretch. The sponsor warns that the fund could lose its entire value if FormFactor fell more than 50% in a day.

The product is built for single-session exposure, and holding it longer carries decay risk.

What to Watch Next: What Will FormFactor Report on October 28?

FormFactor reports fiscal third-quarter results on Wednesday, October 28, the same day the Federal Reserve concludes its meeting. Probe card demand, guidance for AI-related products and the Teradyne relationship will frame the reaction, and FOMG is likely to magnify whichever way the stock moves.