On August 27, GraniteShares 2x Long NVDA Daily ETF rose 10.8% in pre-market trading, trading at $35.3878/share, with turnover of $3.2025 million.
On the news front, NVIDIA reported blowout fiscal Q2 results after hours, driving the 2x leveraged ETF sharply higher. NVIDIA posted revenue of $96.2 billion, up 106% year-over-year, surpassing analyst consensus of $92.38 billion. Adjusted earnings per share came in at $2.22, beating the $2.10 estimate. Additionally, NVIDIA's CFO disclosed that Groq 3 Lpx will begin volume shipments to early adopters by end of the current quarter, with Nebius confirmed as the first customer. The executive also confirmed that Vera Rubin has entered full production, with the company set to simultaneously deliver both Blackwell and Rubin generation systems going forward, though some supply constraints remain.
As a fund designed to deliver twice the daily return of NVIDIA stock through swap agreements with major financial institutions, GraniteShares 2x Long NVDA Daily ETF amplified the underlying stock's post-earnings surge in pre-market trading.
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