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.

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