Why AMD Stock Is Sinking After Opening With Big Gains Today
Despite opening the day solidly in the green, Advanced Micro Devices (NASDAQ: AMD) stock is now moving lower in Tuesday's trading. The company's share price was down 1.9% as of 1:30 p.m. ET amid a 0.1% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 0.3% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC). The stock had been up as much as 6.3% earlier in the session.AMD jumped early in today's trading thanks to hopes that the Trump administration will negotiate lowering tariffs on other countries, but the bullish momentum for the broader market has weakened as the day progressed. In addition to fading recovery momentum, AMD stock is getting dragged lower by an analyst rating downgrade.Stocks jumped out of the gate this morning following reports that trade negotiations with Japan and other countries had commenced, and that some relief on the tariff front could be in sight. But recovery momentum for the broader market is now receding, and the trend has pushed AMD stock back into the red for the day. Investors treated this morning's valuation bounce as an opportunity to exit stocks, and big gains for major indexes have mostly evaporated at this point in the day's trading. Continue reading
Despite opening the day solidly in the green, Advanced Micro Devices (NASDAQ: AMD) stock is now moving lower in Tuesday's trading. The company's share price was down 1.9% as of 1:30 p.m. ET amid a 0.1% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 0.3% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC). The stock had been up as much as 6.3% earlier in the session.
AMD jumped early in today's trading thanks to hopes that the Trump administration will negotiate lowering tariffs on other countries, but the bullish momentum for the broader market has weakened as the day progressed. In addition to fading recovery momentum, AMD stock is getting dragged lower by an analyst rating downgrade.
Stocks jumped out of the gate this morning following reports that trade negotiations with Japan and other countries had commenced, and that some relief on the tariff front could be in sight. But recovery momentum for the broader market is now receding, and the trend has pushed AMD stock back into the red for the day. Investors treated this morning's valuation bounce as an opportunity to exit stocks, and big gains for major indexes have mostly evaporated at this point in the day's trading.
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