On June 8, GraniteShares 2x Long MRVL ETF rose 11.7% in pre-market trading, trading at $165.2/share, with trading volume of $6.28 million. The leveraged ETF tracks Marvell Technology, which itself gained over 7% in the overnight session.

The move extends a powerful rally in Marvell shares driven by multiple catalysts. S&P Dow Jones Indices announced on June 6 that Marvell Technology will be added to the S&P 500 index effective June 22, replacing Pool Corp. The inclusion is expected to drive substantial passive fund inflows given Marvell's $230 billion market capitalization far exceeds the index's $22 billion minimum threshold.

Additionally, NVIDIA CEO Jensen Huang publicly declared Marvell as the next trillion-dollar company at Computex on June 2, highlighting its critical role in AI data center connectivity including custom AI accelerators, optical interconnect DSPs, and silicon photonics. NVIDIA invested $2 billion in Marvell earlier this year to deepen their partnership. The combination of index inclusion, industry endorsement, and strong business fundamentals in AI infrastructure networking continues to fuel investor enthusiasm.

(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.)