On June 29, 2x Long AMD ETF-GraniteShares declined 9.06% in regular trading, trading at $62.1/share, with turnover of $86.21 million. The ETF is a 2x leveraged long product tracking AMD stock, amplifying approximately twice the underlying movement.
On the news front, AMD closed at $521.58, down 2.06%. The semiconductor sector faced broad pressure as investors questioned whether chip demand can remain robust following widespread price hikes by Apple and Xbox, while reports that OpenAI may delay its IPO further dampened risk appetite. The sector attempted a pre-market rebound but failed to sustain gains after the open, with Micron Technology falling 8.44%, Intel dropping 6.89%, and Marvell Technology declining 5.29%.
Options market activity reinforced bearish sentiment, with a $35 million synthetic short position placed earlier in the week signaling institutional hedging against medium-term downside risk. As a leveraged product, AMDL amplifies losses during underlying stock declines, with compounding drag effects resulting in drawdowns significantly exceeding AMD itself.
(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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