Why Is Defiance Daily Target 2X Long NVO ETF ( $NVOX ) Down -16.2% Today? (Find out why any stock moved today on Tickeron.) NVOX declined roughly 16.2% to about $10.40, down from a prior close of $12.41. The primary catalyst was a disappointing Capital Markets Day from Novo Nordisk, the ETF's sole underlying exposure. The fund's 2X daily leverage amplified Novo Nordisk's roughly 8% drop into a much steeper decline. $SSO $SPXL $QLD $TQQQ $SOXL