Movement Alert｜GraniteShares 2x Long MRVL Daily ETF Rises 9.26% in After-Hours Trading, Marvell Surges on Huang Trillion-Dollar Endorsement

Market Focus05:02

On June 3, GraniteShares 2x Long MRVL Daily ETF rose 9.26% in after-hours trading, trading at $209.98/share, with trading volume of approximately $18.56 million. The move extends massive gains in the underlying Marvell Technology stock.

The catalyst behind the surge traces to Nvidia CEO Jensen Huang publicly calling Marvell the next trillion-dollar company during Computex 2026 in Taipei on June 2. Huang appeared alongside Marvell CEO Matt Murphy, emphasizing that connectivity is becoming the defining bottleneck in AI infrastructure. Marvell shares surged approximately 29% during regular trading on June 3, with over 76 million shares traded versus a daily average of 27.6 million.

The endorsement follows Nvidia's $2 billion strategic investment in Marvell earlier this year and their joint NVLink Fusion collaboration. Marvell recently reported Q1 fiscal 2027 revenue of $2.418 billion, up 28% year-over-year, and raised its fiscal 2028 revenue outlook to $16.5 billion, with optical interconnect business projected to grow over 70% by fiscal year-end.

(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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