On June 30, GraniteShares 2x Long MRVL ETF rose 8.06% in regular trading, trading at $53.46/share, with turnover of $38.46 million.
On the news front, UBS on June 29 significantly raised its target price on the underlying stock Marvell Technology from $230 to $340, maintaining a Buy rating. The research note highlighted that Marvell's CXL chip business is scaling rapidly, with projected CXL revenue of approximately $10 billion in 2027 and potentially reaching $20 billion in 2028. UBS simultaneously revised total revenue forecasts for 2027 and 2028 to $168 billion and $239 billion, respectively.
Additionally, Bank of America Securities had previously raised its Marvell Technology target price from $240 to $365. The convergence of bullish calls from multiple investment banks created a resonance effect, amplifying upward momentum in this leveraged ETF product that provides 2x daily exposure to Marvell Technology shares.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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