The previous 'Sell' rating on Defiance Daily Target 2X Long MSTR ETF correctly anticipated the fund's massive capital destruction, including a necessary 1-for-10 reverse stock split in March 2026 to avoid delisting. MicroStrategy has plummeted 42% this year—mostly in the past month—driving its RSI down to a deeply exhausted 24.8 and signaling a highly probable near-term relief rally. Because MSTX is already down 80% year-to-date, the maximum remaining upside for short sellers is mathematically capped, while the risk of getting caught in a violent counter-trend bounce is high.