On June 5, GraniteShares 2x Long MRVL Daily ETF declined 13.08% in regular trading, trading at $189.0/share with trading volume of $155 million. The leveraged ETF provides 2x daily exposure to Marvell Technology, amplifying the underlying stock's losses.

The decline was driven by a broad semiconductor sector selloff triggered by Broadcom's disappointing AI chip revenue guidance. Broadcom reported fiscal Q2 revenue of $22.19 billion but guided Q3 AI semiconductor revenue at $16 billion, below the $17.2 billion analyst consensus. Broadcom stock plunged 12.6%, dragging the Philadelphia Semiconductor Index down over 2% and pressuring the entire chip sector including Marvell, AMD, ARM, and Micron.

Notably, Marvell had surged 33% earlier in the week after NVIDIA CEO Jensen Huang called it the next trillion-dollar company at Computex. The current pullback reflects profit-taking across the AI chip complex as investors reassess whether lofty valuations can be sustained when even strong growth fails to meet elevated expectations.

(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.)