On June 17, GraniteShares 2x Long MRVL Daily ETF rose 8.41% in pre-market trading, trading at $170.5/share, with turnover of $1.39 million. The leveraged ETF tracks Marvell Technology, which itself gained over 4% during the same session.
The move comes as the broader semiconductor sector saw an extended pre-market rally, with Micron Technology up over 5%, ASML and Marvell Technology each up over 4%, and AMD, Intel, and ARM all gaining over 3%. The rebound follows a prior session decline where Marvell fell 5.6% after outgoing CFO Willem Meintjes filed to sell 211,329 common shares via Form 144 filings with the SEC, contributing to sector-wide weakness.
Marvell remains in focus amid ongoing debate over its path to a trillion-dollar valuation. Analysts note its revenue needs to grow from approximately $11.5 billion to $60 billion to justify such a target, with the August earnings report expected to be a key test of AI-driven demand momentum.
(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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