Market Downturn: Inverse ETFs, Viant & Fluence Energy Drop

Font: Financial Modeling Prep  • Sep 17, 2026

Market Downturn: Inverse ETFs, Viant, and Fluence Energy Decline

• Inverse quantum ETFs fell as their underlying stocks strengthened.
• Viant Technology Inc. (NASDAQ: DSP) dropped after announcing a public offering by a selling stockholder.
• Fluence Energy, Inc. (NASDAQ: FLNC) sold off after cutting fiscal 2026 guidance.

Several stocks and leveraged ETFs posted sharp declines. Defiance Daily Target 2X Short IONQ ETF (NASDAQ: IONZ) fell 20.08% to $24.78. The fund seeks -200% of the daily performance of IonQ, Inc. (NYSE: IONQ), so its decline suggests strength in IonQ shares.

Other inverse quantum ETFs also fell. Defiance Daily Target 2X Short QBTS ETF (NASDAQ: QBTZ) dropped 17.91%, while Defiance Daily Target 2X Short RGTI ETF (NASDAQ: RGTZ) declined 15.82%. These funds move opposite to D-Wave Quantum (NYSE: QBTS) and Rigetti Computing (NASDAQ: RGTI), respectively.

Viant Technology Inc. (NASDAQ: DSP) fell 19.00% to $10.02 after announcing an underwritten public offering of 8.5 million Class A shares by a selling stockholder. Since the shares are being sold by an existing holder, the offering increases market supply but does not necessarily raise new capital for Viant.

Fluence Energy, Inc. (NASDAQ: FLNC) declined 15.36% to $7.66 after cutting fiscal 2026 revenue guidance from about $3.0 billion to $2.4 billion. The company also now expects an adjusted EBITDA loss of about $200 million, mainly due to supply chain issues and production delays at its new Houston facility.

Overall, the declines were driven by strong underlying quantum stocks hurting inverse ETFs, Viant’s share offering, and Fluence’s weaker financial outlook.