🔴 MVLL is trading 3.4% down today on AI profit-taking and repositioning ahead of 3-for-1 split and MRVL's S&P 500 inclusion

MVLL is trading 3.4% down in after-hours trading, extending a sharp fade after last week’s AI-fueled surge in Marvell Technology (MRVL). - The 2x leveraged ETF is reacting to profit-taking in high-beta semiconductor and AI plays as the Nasdaq weakens. - Traders are repositioning ahead of an announced 3-for-1 options split on June 26. - Marvell Technology (MRVL), the underlying stock for MVLL, is also being added to the S&P 500 index today, June 22, contributing to short-term volatility and de-risking after extreme gains.