The GraniteShares 2x Long AMD Daily ETF is experiencing a surge in interest, driven by a combination of positive developments in the semiconductor sector and specific advancements from Advanced Micro Devices (AMD). AMD's recent announcement of new Ryzen Z2 processors for gaming handhelds has generated excitement, particularly with the CES 2025 presentation scheduled for later today. The introduction of these processors, which target various power levels and include the high-performance Z2 Extreme, is expected to bolster AMD's position in the gaming market. Additionally, the semiconductor sector as a whole is showing signs of a potential breakout, with major players like NVIDIA and Broadcom exhibiting bullish trends, further fueling investor optimism.
The underlying security, AMD, has seen its price rise to $129.73, marking a 3.48% increase. This upward movement is mirrored in the broader semiconductor index, SOX, which is up 3.97%. The GraniteShares 2x Long AMD Daily ETF (AMDL) has climbed to $8.79, reflecting a 6.74% increase from the previous close.