The GraniteShares 2x Long AMD Daily ETF (AMDL) closed at $8.26 on December 27, 2024, reflecting a modest 0.24% increase as Advanced Micro Devices (AMD) stock experienced a slight uptick of 0.15% to $125.25. AMD's recent price action is attributed to its entry into oversold conditions, with technical indicators suggesting a potential rebound. The stock found support in the $120 to $125 range, historically a level where buyers re-enter the market. Analysts highlight AMD's strategic positioning in the semiconductor sector, particularly its advancements in AI and data center technologies, which bolster its competitive edge against rivals like Nvidia and Intel. Despite recent market challenges, AMD's focus on innovation and high-performance computing continues to drive its growth potential.