On November 6, GraniteShares 2x Long NVDA Daily ETF rose 8.36% in Pre-Market Trading, trading at $24.4 with turnover of $8.6749 million.

The move appears closely tied to Nvidia, the leveraged ETF’s underlying stock, after Nvidia fell 8.20% in the latest session to $181.55 on $37.74 billion of trading, amid a broader technology selloff that also hit major semiconductor names.

Recent developments around Nvidia have been mixed. The company disclosed an AI memory full-stack co-design strategy, stating HBM capacity per GPU rises only about 3% from Blackwell Ultra to Vera Rubin while throughput per dollar in certain agent workloads can improve by as much as 30 times. Separately, Nvidia completed a $1 billion investment in Naver to support AI factory expansion. These updates provide business context, but the clearest near-term driver for NVDL remains the sharp swing in Nvidia shares themselves, which directly amplifies moves in this 2x long daily product.

The fund will enter into one or more swap agreements with major financial institutions for a specified period ranging from a day to more than one year whereby the fund and the financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on the Underlying Stock. It is non-diversified.

(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.)