Inspire Growth ETF Climbs 1.20% Despite 54.92% Kyndryl Drop
Inspire Growth ETF rose 1.20% in premarket trading on Tuesday, even as top holding Kyndryl plunged 54.92% following a CFO exit and weak outlook. The ETF’s 3.39% weighting to Kyndryl and 0.43% exposure to Russell US Small Cap Equity ETF position it for mixed volatility.
1. Price Performance
Inspire Growth ETF (GLRY) gained 1.20% in premarket trading on February 10, bucking broader market weakness. The uptick reflects sector rotation into mid-cap growth strategies despite turbulence in key holdings.
2. Top Holdings Breakdown
GLRY allocates 3.39% of its portfolio to Kyndryl Holdings and 0.43% to the Russell US Small Cap Equity ETF. Other significant positions include mid-cap technology and industrial names driving the ETF’s momentum profile.
3. Kyndryl Slump Impact
Kyndryl shares plunged 54.92% after reporting adjusted EPS of $0.52 versus a $0.60 consensus and $3.86 billion in revenue below the $3.89 billion estimate. The company also announced its CFO departure and an Audit Committee review of cash management practices following SEC document requests.