GraniteShares 2x Long MU Daily ETF is trading at $638.73 (+10.2%) driven by significant positive catalysts for its underlying stock, Micron Technology (MU), from AI-leader NVIDIA.
- Over the weekend, NVIDIA CEO Jensen Huang stated the AI-driven memory shortage could continue for several years, a direct bullish signal for memory manufacturers like Micron. [8]
- On June 8, it was reported that NVIDIA confirmed Micron has passed qualification for its next-generation HBM4 memory, which will be used in NVIDIA's future AI platforms. [17]
- The news provides a strong company-specific tailwind, helping the stock rebound sharply from a broad semiconductor selloff on June 5 that was triggered by rate fears and softer guidance from Broadcom. [2, 18]