Kioxia Holdings, the Japanese NAND flash memory giant formerly known as Toshiba Memory, is experiencing heightened share price volatility following the launch of leveraged single-stock ETFs targeting the company on the US market. The Corgi Kioxia 2x Daily ETF, trading under the ticker KI, launched on June 24 on Cboe BZX alongside dozens of similar products, allowing traders to gain 2x leveraged exposure to the stock’s daily movements. On July 24, 2026, the shares plummeted 9.49% to close at ¥56,010, after hitting an intraday low of ¥55,080, amid broader turbulence in the semiconductor and AI sectors. With a market capitalization of approximately ¥30.65 trillion and a successful IPO on the Tokyo Stock Exchange (ticker 285A) in 2024, Kioxia is now targeted by multiple leveraged products from issuers like Roundhill and GraniteShares, creating feedback loops that amplify price moves beyond what fundamentals would justify.
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