Advanced Micro Devices in Free-fall
Who knows what is really going on at Advanced Micro Devices (AMD)? Are they up for sale, will they break-up, will they fold, will they fade like the bad memory of Batman & Robin from 1997.
AMD is a volatile stock, today its down hard and hit a new 52-week low. AMD got down to $1.92 per share and going into the final hour of trading its down 7%.
All we know is that AMD did hire JPMorgan (JPM) to help the company 'explore options'.
Wall Street is taking no chances and is bailing on AMD after sending its shares up 18% the day before. Rumors are driving AMD shares right now -- it's a dangerous trade. AMD continues to attract a ton of attention thanks to its near $2 stock price.
AMD is losing to its competitors, Intel (INTC) and Nvidia (NVDA). They both continue to kills the runner-up company and take away their market share quarter after quarter.
The question is -- has AMD hit bottom yet? Traders are clearly in control of AMD shares and will continue to play it at shareholders expense. Buyer beware.
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