On June 10, GraniteShares 2x Long MRVL ETF declined 8.39% in pre-market trading, trading at $136.04/share, with trading volume of $8.10 million. The leveraged ETF tracked renewed selling pressure in the underlying Marvell Technology stock, which fell over 7% as the semiconductor sector continued to experience sharp swings.

Marvell surged 32.5% on June 2 after NVIDIA CEO Jensen Huang publicly called it the next trillion-dollar company at COMPUTEX. The stock then crashed 16.7% on June 6 amid a broad semiconductor selloff, as the Philadelphia Semiconductor Index plunged 10% — its worst session since 2020 — driven by concerns over AI chip demand following Broadcom's disappointing results and strong employment data raising rate hike expectations. After rebounding approximately 14% on June 8, partly buoyed by its announced inclusion in the S&P 500 Index effective June 22, Marvell faced renewed profit-taking. As a 2x leveraged product, this ETF amplifies the underlying daily moves, resulting in the pre-market decline.

(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.)