Marvell gives up ground premarket after 11% jump, S&P 500 inclusion and CFO move keep AI narrative in play
Marvell Technology stock slipped early Friday, changing hands at $275.86 in premarket, off 1.73%. The shares had jumped 11.13% to $280.71 Thursday. After that surge, some investors questioned if the AI chipmaker can keep the pace or if the rally has gone too far. Marvell was trading at about a 96 P/E, according to Google Finance’s latest figures after Thursday’s move.