On June 11, GraniteShares 2x Long MRVL ETF rose 8.39% in pre-market trading, trading at $143.24/share, with trading volume of $7.18 million. The leveraged ETF continues to benefit from sustained strength in its underlying stock, Marvell Technology, following the announcement of its inclusion in the S&P 500 index.

S&P Dow Jones Indices announced that Marvell Technology will be added to the S&P 500 index effective June 22, replacing Pool Corp. Marvell's market capitalization of approximately $230 billion far exceeds the index's $22 billion minimum threshold. The inclusion is expected to drive significant passive fund inflows as index-tracking funds adjust their holdings to reflect the new composition.

Adding momentum, NVIDIA CEO Jensen Huang recently referred to Marvell as the next trillion-dollar company, highlighting its growing custom chip business for cloud computing providers. Marvell projects its custom chip revenue to reach approximately $11.5 billion in fiscal 2027 and $16.5 billion in fiscal 2028. As a 2x leveraged product, MVLL amplifies the price movement of the underlying MRVL shares.

(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.)