🔴 GraniteShares 2x Long MRVL Daily ETF is trading 6.67% down today as the Marvell AI rally reverses on profit-taking and broader chip sector weakness

GraniteShares 2x Long MRVL Daily ETF is trading at $189.39 (-6.67%) as the recent AI-driven rally in Marvell Technology reverses amid broader semiconductor sector pressure.

• The move is primarily a reversal of the significant June 2–3 surge tied to Marvell Technology’s AI breakout and bullish commentary from Nvidia CEO Jensen Huang.
• Profit-taking in leveraged AI chip ETFs was further encouraged by Broadcom’s weak post-earnings reaction, which weighed on the broader semiconductor complex.
• Broader technology sector weakness and mixed market conditions on June 4 are adding additional downward pressure to the fund.