Why Marvell Stock Is Surging Today
Marvell Technology's (NASDAQ: MRVL) share price is moving higher in Monday's trading. The semiconductor stock was up 6.5% as of 3:40 p.m. ET despite a modest pullback for tech stocks. At the same point in the day's trading, the S 500 and the Nasdaq Composite were both down 0.4%.
Marvell is getting a valuation boost thanks to a recent report suggesting that is contracting with the company for two new chip designs. As of this writing, Marvell stock is now up roughly 75% this year.
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Source Fool.com
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