According to @EricBalchunas, proposed 3x leveraged single-stock ETF filings span 66 unique stocks, and over the past 5 years there were 350 instances where one of those names moved by 33% or more in a single day, a magnitude sufficient to wipe out a 3x product in one session (source: Eric Balchunas on X, Oct 15, 2025). He added that users often rotate to the next product after blow-ups and that leveraged ETFs are flagged as a red light in his rating system, underscoring materially elevated single-session tail risk for traders (source: Eric Balchunas on X, Oct 15, 2025).