On June 5, GraniteShares 2x Long MRVL ETF declined 8.6% in after-hours trading, trading at $204.0/share, with trading volume of $11.35 million. The leveraged ETF tracking Marvell Technology experienced a correction following a historic rally earlier in the week.

Nvidia CEO Jensen Huang called Marvell the \"next trillion-dollar company\" at the Computex trade show on June 2, triggering a 32.5% single-day surge in the underlying MRVL stock to $290.79 — its best single-day percentage gain on record. The remarks added over $60 billion in market capitalization in a single session, pushing Marvell's valuation past $254 billion. As a 2x leveraged product, the ETF amplified gains during the rally and is now magnifying the pullback as investors take profits.

Market observers have noted that FOMO-driven speculative trading has characterized the AI hardware rally broadly, with Marvell shares already up 242% year-to-date prior to any correction. Analysts have cautioned that reaching the trillion-dollar target would require the stock to nearly quadruple from current levels.

(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.)