# Why did VelocityShares Daily 3x Inverse Natural Gas ETN skyrocket from 900 to 25,000 in 2 days? [closed]

Why Did DGAZF Go From \$400 To \$24,000 In Just A Few Days?

DGAZF is the over-the-counter version of the now delisted VelocityShares Daily 3x Inverse Natural Gas ETN (DGAZ). Back in June, I wrote about Credit Suisse deciding to delist its suite of ETNs in order to "better align its product suite with its broader strategic growth plans".

I screenshot Google and Yahoo Finance. I happened upon this ETN on r/stocks and r/stockmarket. The Natural Gas market appears relatively uneventful now, and doesn't appear to explain this skyrocket.

• I’m voting to close this question because this is just financial market commentary, not a question about the discipline of economics. – Brian Romanchuk Aug 13 '20 at 11:41
• @BrianRomanchuk Is financial market commentary off topic? – Giskard Aug 13 '20 at 15:34
• A situation that is not an arbitrage due to limits to arbitrage is squarely in the field of financial economics (why the divergence from NAV?) -- not market commentary (where is the price going?) -- since the question explicitly notes that natural gas prices did not move. If asking about a divergence from NAV and possible limits to arbitrage is market commentary, then any discussion of Tuckman and Vila (1992), Shleifer and Vishny (1997) and even Diamond and Verrechia (1987) would also be market commentary. That seems difficult to defend and a sadly narrow definition of economics. – kurtosis Aug 13 '20 at 19:43