This is a triple leveraged ETF tied to the NASDAQ 100.
The TQQQ uses derivatives to TRY to match the performance of the benchmark index, times three. In other words, if the NASDAQ 100 goes up by 1% in a day, the TQQQ will go up by 3%
The NASDAQ has been crushed by inflation and recession fears lately, if it comes back up, which it will, one can make a lot of money with the TQQQ.
As with anything in the stock market, you must understand how this one works. IT IS NOT MEANT TO BE HELD LONG TERM! You may think the NASDAQ will certainly be up in the next few years, just buy it. Do not do that. If the benchmark goes up 10% in a year, this will likely lose money if held for the entire year.
All derivatives lose money due to something called Time Decay. This fund is meant to be held for one day at a time, even in a bull market, if held for long periods of time it tends to go to zero due to time decay, and in this volatile market, that will happen rather quickly. One can make a lot of money with options, but you can lose money quickly also. Be cautious with this one, use small amounts of money at first so you can see how it works, but there will be opportunities to make money with this one in the coming weeks.