The GraniteShares 2x Long AMD Daily ETF, which tracks the performance of Advanced Micro Devices (AMD), is experiencing significant downward pressure. This decline is largely attributed to a broader selloff in technology and AI infrastructure-related stocks. Notably, major players like Nvidia and Marvell Technology have seen substantial drops, with Nvidia down 12.2% and Marvell Technology down 14.6%. This selloff is partly driven by concerns over high valuations in the tech sector, as highlighted by the recent DeepSeek report, which has rattled investor confidence. Additionally, the semiconductor sector, represented by the SOX index, is down 6.09%, further exacerbating the negative sentiment surrounding AMD.
The current price of AMD is $117.60, reflecting a 4.27% decline. The GraniteShares 2x Long AMD Daily ETF (AMDL) has fallen to $7.13, marking an 8.59% decrease from its previous close.