MNDY - AMD's Rising But This Aptly Named Stock Is Monday's Big Early Winner
Investors have enjoyed a strong rally over the past week, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been a big beneficiary of the rebound in the stock market. The Nasdaq has picked up almost 10% from its lows from earlier this month, even though futures contracts on the tech-heavy index eased slightly lower early Monday morning.
Some high-profile stocks have led the charge higher for the Nasdaq, and Advanced Micro Devices (NASDAQ: AMD) was on the move again to start the new week. Yet seeing even bigger gains was the aptly named Monday.com (NASDAQ: MNDY) , which announced its latest financial results and confirmed the steep trajectory of its recent growth.
Shares of Advanced Micro Devices were up another 3% in premarket trading on Monday, adding to gains of nearly 6% in Friday's trading session. AMD has seen its stock struggle throughout much of 2022 along with the rest of the semiconductor industry, but analysts on Wall Street seem to have an increasingly favorable view toward a potential rebound for the chipmaker.
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AMD's Rising, But This Aptly Named Stock Is Monday's Big Early Winner