On August 5, GraniteShares 2x Long AMD Daily ETF declined 20.34% overnight, trading at $50.0/share, with turnover of $15,200. As a 2x leveraged ETF tracking AMD, its decline directly reflects AMD's approximately 8%-10% after-hours pullback.
On the news front, AMD reported Q2 revenue of $11.536 billion, up 50% year-over-year and above the consensus estimate of $11.3 billion. However, its Q3 revenue guidance midpoint of $13 billion, while exceeding prior analyst estimates of $12.5 billion, still fell short of expectations from more aggressive investors who had bet on further AI-driven acceleration. The ETF had surged 8.9% during the regular session ahead of the earnings release, reflecting bullish positioning that unwound in a classic sell-the-news reversal once guidance landed below elevated hopes.
AMD also outlined long-term growth targets, projecting data center revenue to more than double in 2027, and announced plans for rack-scale products integrating MI500 GPUs. Despite the strong fundamental outlook, near-term price action was driven by the gap between results and the most optimistic market expectations.
(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.)
Comments