TECH - AMD Stock Worth A 27% Return If It Reclaims Recent Record Highs | Benzinga
Nvidia Corporation (NASDAQ:NVDA) isn’t the only artificial intelligence chip stock in town, and Advanced Micro Devices (NASDAQ:AMD) has been striving to prove this over the past weeks.
Despite announcements on new product launches and partnerships, the shares haven’t responded — at least, not in the way you’d expect during one of the biggest technology stock rallies of the past two decades.
On Friday, March 8, for example: AMD stock had closed the previous session at $211.38. It opened on the Friday at $213.41, before rallying 7.5% to a high of $227.30. However, the shares then tumbled all the way down to $205.6, before closing out at $207.39 — down 1.9% on the day.
To explain such volatility — a near 9% peak through move in a single day — isn’t easy. On Thursday, March 8, Benzinga reported some unusually bearish action in the options market on AMD. But it may have just been profit-taking.
Over the next few sessions, AMD shares finally fell as low as ...