🔴 GraniteShares 2x Long MRVL Daily ETF is trading 6.6% down today as Marvell Technology consolidates after AI and S&P 500 rally

GraniteShares 2x Long MRVL Daily ETF is trading 6.6% down today as its underlying asset, Marvell Technology (MRVL), enters a consolidation phase following a sharp rally driven by AI demand and its inclusion in the S&P 500.

• The ETF provides 2x leveraged long exposure to MRVL, which translates into an outsized downside move during even a modest pullback in the underlying stock's recent surge.
• The decline occurs on June 9, 2026, despite a broadly positive session for the wider U.S. equity market.
• Marvell's recent momentum was fueled by significant investor optimism surrounding AI-related infrastructure and the technical tailwinds of joining the S&P 500 index.