On June 10, GraniteShares 2x Long MRVL ETF declined 8.09% in after-hours trading, trading at $122.55/share, with trading volume of approximately $9.97 million. The leveraged ETF amplified the underlying weakness in Marvell Technology, which fell 7.6% during the regular session.
The sell-off was triggered by a research report from SemiAnalysis published on June 9, which simultaneously issued bearish views on CPO (Co-Packaged Optics) commercialization timelines and NVIDIA's 800VDC high-voltage power supply architecture. The report argued that large-scale CPO deployment would be delayed to 2028-2029, significantly later than the market's prior consensus of 2027 full ramp. Three core bottlenecks were cited: low optical engine interconnect yield rates, high ASIC-optical component co-packaging integration difficulty, and unfavorable cost economics versus traditional pluggable modules. Additionally, NVIDIA's 800VDC solution was pushed back to 2028, with only the 400V DC option on track for 2026 deployment.
The report sent the entire U.S. optical communications sector sharply lower, with AAOI down 17%, Coherent down over 11%, and Lumentum down over 8%, reflecting broad re-pricing of near-term growth expectations across the AI infrastructure supply chain.
(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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