Key Points
Marvell Technology (NASDAQ: MRVL) will join the S&P 500 index on June 22, 2023, following recent praise from Nvidia CEO Jensen Huang during a speech at the Computex conference in Taipei, where he indicated Marvell could reach a trillion-dollar valuation. These developments have led to a significant rise in Marvell’s stock price.
Additionally, Marvell CFO Willem Meintjes has filed to sell approximately 211,000 shares of company stock, valued at around $65 million based on a closing price of $308.88 on June 15. This transaction coincides with Meintjes’ upcoming departure as CFO, with Dan Durn set to take over mid-June.
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