On September 28, Marvell Technology fell 3.12% in regular trading, trading at approximately $254.40/share, with turnover of $604 million. The decline came amid broad-based selling pressure across both the semiconductor and optical communications sectors.

On the news front, renowned short seller Michael Burry publicly announced an expansion of his bearish bets against the semiconductor sector, purchasing put options on the iShares Semiconductor ETF with a January 2027 expiry and a $330 strike price. Burry stated that current gains in the sector are technically driven rather than supported by sustainable fundamentals, warning of a significant pullback ahead. His short campaign, which previously targeted Micron Technology and Palantir, now encompasses a broader semiconductor exposure, sending the triple-leveraged inverse semiconductor ETF surging over 8% in pre-market trading.

The optical communications sector came under synchronized selling pressure, with Corning, Coherent, and Marvell Technology each declining over 3%. Within the Semiconductors sector, Intel fell 4.96%, Advanced Micro Devices dropped 2.84%, Micron Technology lost 1.97%, and Broadcom edged down 0.14%, while only NVIDIA bucked the trend with a 3.18% gain.

(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.)