On June 12, GraniteShares 2x Long MRVL ETF declined 8.57% in regular trading, trading at $150.33/share, with turnover of $62.52 million. As a 2x leveraged product tracking Marvell Technology, the ETF amplified losses in the underlying stock.
The decline comes amid continued selling pressure following a SemiAnalysis report published on June 9 that flagged significant delays in two key AI data center technologies — CPO (co-packaged optics) and 800VDC power architecture — with scale production potentially pushed to 2028-2029. Although the report explicitly noted Marvell as a short-term beneficiary of CPO delays due to its pluggable optics business, the broader optical and semiconductor sector experienced heavy selling, with Marvell falling 7.61% on June 10 alone.
Despite positive developments on June 12 including B.Riley raising its Marvell target price to $345 from $240 and the company appointing former Adobe CFO Dan Durn while reaffirming fiscal Q2 guidance of $2.70 billion in revenue, the leveraged ETF continued to trade lower as the sector digested ongoing uncertainty around AI infrastructure deployment timelines.
(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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