On June 5, GraniteShares 2x Long AMD ETF (AMDL) fell 8.33% in pre-market trading to $65.52 per share, with trading volume of approximately $6.86 million. The decline reflects amplified losses in underlying stock AMD, which dropped over 5% in the prior session and continued falling in pre-market amid a broad semiconductor selloff.
The catalyst traces to chip giant Broadcom's Q3 AI semiconductor revenue guidance of $160 billion, which fell short of the analyst consensus of $172 billion. Broadcom's full-year AI chip sales guidance of $560 billion also missed the expected $576 billion. Despite reporting record Q2 revenue of $221.9 billion with 48% year-over-year growth, Broadcom's stock plunged over 12%, triggering a chain reaction across the sector. The Philadelphia Semiconductor Index fell over 2%, with AMD declining more than 5%, Micron dropping over 7%, and Arm falling over 4%. As a 2x leveraged product tracking AMD, AMDL magnifies these losses, reflecting heightened concern over elevated valuations across the AI chip complex after months of parabolic gains.
(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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