On June 9, GraniteShares 2x Long MRVL Daily ETF rose 8.48% overnight, trading at $190.49/share, with trading volume of $33.98 million.

The leveraged ETF's gain reflects a strong rally in its underlying stock Marvell Technology, which surged over 15% to an intraday high after S&P Dow Jones Indices announced that Marvell will be added to the S&P 500 index, effective June 22. The announcement came after Marvell's market capitalization surpassed $230 billion, far exceeding the index's minimum threshold of $22 billion.

The inclusion follows a remarkable run for Marvell, which saw its largest single-day gain in history earlier this month after NVIDIA CEO Jensen Huang publicly stated the company is destined to become the next trillion-dollar company, citing its networking and connectivity chips as critical to AI data center infrastructure. Marvell's recent earnings also showed strong momentum, with the company raising its full-year guidance on robust AI data center demand for high-speed networking and custom compute chips.

(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.)