Movement Alert｜GraniteShares 2x Long MRVL ETF Falls 8.39% in Pre-Market Trading, Tracking Marvell Selloff Amid Ongoing Chip Sector Volatility

Market Focus06-10

On June 10, GraniteShares 2x Long MRVL ETF declined 8.39% in pre-market trading, trading at $136.04/share, with trading volume of $8.10 million. The leveraged ETF tracked renewed selling pressure in the underlying Marvell Technology stock, which fell over 7% as the semiconductor sector continued to experience sharp swings.

Marvell surged 32.5% on June 2 after NVIDIA CEO Jensen Huang publicly called it the next trillion-dollar company at COMPUTEX. The stock then crashed 16.7% on June 6 amid a broad semiconductor selloff, as the Philadelphia Semiconductor Index plunged 10% — its worst session since 2020 — driven by concerns over AI chip demand following Broadcom's disappointing results and strong employment data raising rate hike expectations. After rebounding approximately 14% on June 8, partly buoyed by its announced inclusion in the S&P 500 Index effective June 22, Marvell faced renewed profit-taking. As a 2x leveraged product, this ETF amplifies the underlying daily moves, resulting in the pre-market decline.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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