Stock Market Today, June 8: Marvell Technology Surges After S&P 500 Inclusion Confirmed
Marvell Technology (NASDAQ:MRVL), a data infrastructure semiconductor provider, closed Monday at $288.85, up 9.63%. The stock jumped after confirmation that it will join the S&P 500 later this month. Investors are watching how sustained AI data center demand supports the fundamentals behind that stock’s inclusion in the index. Trading volume reached 83.6 million shares, about 159% above its three-month average of 32.3 million shares. Marvell Technology IPO'd in 2000 and has grown 1,927% since going public.
How the markets moved today
The S&P 500 added 0.30% to finish Monday at 7,406, while the Nasdaq Composite gained 0.86%, closing at 25,930. Among semiconductors, Monolithic Power Systems closed at $1,559.18 (+5.28%), and Microchip Technology finished at $91.37 (+3.43%), underscoring broad strength across chipmakers.
What this means for investors
The folks running the S&P 500 plan to drop Pool Corporation and The Campbell’s Company from the index in favor of Marvell Technology and Flex later in June. While technically nothing changes about the newly added stocks joining the index, their inclusion often sparks a short-term buying spree as institutions and S&P 500 trackers add them to reflect the changes.
Marvell’s soaring share price today is likely tied to this buying. One week removed from Nvidia’s Jensen Huang calling Marvell the “next trillion-dollar company,” and saying that the company’s chips are “essential” for AI-focused data centers, shares have more than tripled in 2026 already. Marvell trades at 71 times forward earnings, but expects its revenue to grow by 40% this year.
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Josh Kohn-Lindquist has positions in Nvidia and Pool. The Motley Fool has positions in and recommends Marvell Technology, Monolithic Power Systems, and Nvidia. The Motley Fool recommends Campbell's, Flex, and Pool. The Motley Fool has a disclosure policy.
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