AMD Bulls Make a Killing With 2X ETFs, But Friday’s 20% Rout Delivers a Reality Check
Summary
Advanced Micro Devices experienced a sharp stock rally followed by a sudden reversal at the end of the week. Leveraged exchange-traded funds tied to the company surged significantly during the upward move before the recent market correction reduced those gains.
Advanced Micro Devices Inc. (NASDAQ:AMD) rallied sharply through Thursday, sending leveraged ETFs tied to its shares soaring before Friday’s reversal pared those gains. The stock climbed approximately 30.3% from the Nov. 6 close through Nov. 12, closing at $585.30 on Thursday. The rally translated into even bigger gains for the 2X leveraged ETFs, with GraniteShares 2x Long AMD Daily ETF…
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