On June 26, 2x Long AMD ETF-GraniteShares (AMDL) fell 8.05% in pre-market trading, trading at $64.50/share, with turnover of $876,400.
On the news front, semiconductor stocks declined broadly in pre-market trading, with Micron Technology down approximately 4%, AMD down approximately 2%, Intel down approximately 3%, and Seagate Technology down approximately 3%. As a 2x leveraged long product tracking AMD, AMDL amplified the underlying stock's decline.
Notably, AMDL had surged nearly 10% in the prior session after UBS raised AMD's target price from $455 to $670, maintaining a buy rating, and raised AMD's 2027 CPU revenue forecast to $23 billion. The current pre-market pullback comes after the prior session's sharp rally, with broader sector weakness adding downward pressure on the leveraged product.
(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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