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The Screen · Financials
GraniteShares 2x Long BABA Daily ETF
BABX · NASDAQ · USD
The fund is an actively managed exchange traded fund that attempts to replicate 2 times (200%) the daily percentage change of the underlying stock by entering financial instruments such as swaps and options on the underl…
FAIL · Does not pass the screen
18.93 USD
Screen close, 2026-09-21 · not a live quote Last reviewed 14 days ago
Screened 2026-09-21 · the tape above runs as of 13:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 18.93 against the desk's fair-value range, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price18.93 USD
Ethical score30.0/100
Our investment reviews on this name
2026-09-24Read Markdown18.93+0.0% to today
2026-08-22Read Accumulation19.30-1.9% to today
2026-07-02Read Distribution19.30-1.9% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
GraniteShares 2x Long BABA Daily ETF holds its Markdown at $18.93. The statistical read favours the sellers, held for 11 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 11 days
Price at the screen
$18.93
Valuation
N/A trailing · N/A forward price to earnings
Values screen
FAIL· score 30.0
The Workings
Five Screens, Shown in Full
Does not pass. Financial sector: Financial
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Financial sector: Financial
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
GraniteShares 2x Long BABA Daily ETF does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Where & How to Trade
BABX trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown$18.93+0.0%Entry 7
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 35%.
2026-09-24Markdown · changed$18.93-1.9%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 35%.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 35%.
2026-07-22Distribution$19.30+0.0%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 35%.
2026-07-18Distribution$19.30+0.0%Entry 3
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 29%. Our forward projection puts the odds of a 10% gain over the next month near 35%.
2026-07-03Distribution$19.30+0.0%Entry 2
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Distribution$19.30Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$28.87
-30.5%
·
$695
-30.5%
2 months
$25.27
-20.6%
·
$794
-20.6%
3 months
$28.69
-30.1%
·
$699
-30.1%
6 months
$41.58
-51.8%
·
$482
-51.8%
1 year
$28.20
-28.9%
·
$711
-28.9%
2 years
$15.32
+30.9%
·
$1,309
+30.9%
3 years
$20.51
-2.2%
·
$978
-2.2%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever BABX does next, these words stay.
GraniteShares 2x Long BABA Daily ETF · BABX · Markdown · $18.93
Recorded 2026-09-21 · before the outcome · scored mechanically