Movement Alert|GraniteShares 2x Long MRVL Daily ETF Rises 8.47% in Regular Trading, UBS Significantly Raises Marvell Technology Target Price Boosting Bullish Sentiment

Market Focus06-30

On June 30, GraniteShares 2x Long MRVL Daily ETF rose 8.47% in regular trading, trading at $50.16/share, with turnover of $250 million.

On the news front, UBS on June 29 significantly raised its target price on the ETF's underlying stock Marvell Technology from $230 to $340, maintaining a Buy rating. The research note highlighted rapid growth in Marvell's CXL (Compute Express Link) chip business, projecting CXL-related revenue of approximately $10 billion by 2027 and potentially $20 billion by 2028. UBS simultaneously revised total revenue estimates for Marvell to $16.8 billion for 2027 and $23.9 billion for 2028. Analyst Timothy Arcuri's team noted that as hyperscale cloud providers continue ramping AI infrastructure investment, CXL is becoming a critical interconnect technology for data centers, with Marvell well-positioned to capitalize. Separately, Bank of America Securities had previously raised its Marvell target from $240 to $365.

(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.

Comments

We need your insight to fill this gap
Leave a comment