Why Marvell Technology Stock Triumphed on Tuesday
An analyst at a top U.S. bank reiterated his positive outlook on the company.
Overview
Although it's not a hard-and-fast rule, when a high-profile financial institution issues a bullish report on a stock, that title gets a nice little price boost as investors react to the news. This was the case with Marvell Technology (NASDAQ: MRVL) on the second trading day of the week, as it climbed almost 5% higher after a positive analyst take.
The financial institution in question was the banking giant Citigroup, which issued an update on Marvell stock ahead of the company's investor day scheduled for next Tuesday, Oct. 6.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.