On August 5, GraniteShares 2x Long AMD Daily ETF declined 11.66% in regular trading, trading at $55.24/share, with turnover of $171 million. As a 2x leveraged ETF tracking AMD, its decline directly reflects approximately 6% downside in the underlying stock.
On the news front, AMD released its Q2 earnings report showing revenue grew 50% year-over-year to $11.536 billion, exceeding the consensus estimate of $11.3 billion and setting a record high. Gross margin reached 56%, also a new record. However, AMD guided Q3 revenue at a midpoint of $13 billion, which while above prior analyst estimates of $12.5 billion, failed to meet expectations from aggressive investors who had bet on further AI-driven growth acceleration.
The AI data center segment accounted for 58% of revenue but carried a lower gross margin than the company average, raising concerns about the cost of growth. Multiple investment banks had previously raised AMD price targets to $500, setting a high bar that the guidance failed to clear, triggering a classic sell-the-news reaction as bulls exited positions.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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