Source

Memory-supercycle euphoria/positioning tells (perspective memory-supercycle):

• (05-25) The DRAM Memory ETF is the fastest-growing ETF in history — $6.5B in 27 sessions since its 04-02 launch, beating IBIT's prior record. (DRAM already in memory / etf-ideas / etf-monster-universe.)
• (05-26/27) $MU hit $1T market cap, +1,500% in 13 months ($70B → $1T); Trump's 05-22 "Micron is great… $100B in NY" → +19% on reopen.
• (05-29) 2x Leveraged SK Hynix ETF (HK) = world's largest single-stock leveraged ETF, ~$10B AUM — a euphoria/positioning tell, not a name we trade.

Takeaway

From a 30-day @KobeissiLetter pull. Status: social-source claims — price/AUM figures reported by Kobeissi; cross-check for our own MU math.

Read: these are late-cycle euphoria markers on a thesis we already hold long — useful as a sentiment/positioning gauge (when single-stock leverage and a thematic ETF go vertical, the easy part of the cycle is behind us). Watch for a positioning unwind, don't chase.