US Markets
Home›US Markets›ETFs›AMDL drops 15.2% after AMD earnings despite 302.7% YTD…
AMDL drops 15.2% after AMD earnings despite 302.7% YTD jump
GraniteShares AMDL, which targets 2x AMD’s daily move and rebalances every day, fell 15.2% intraday on AMD’s earnings results after rallying 302.7% year to date through Tuesday.
Yahoo Finance reports that GraniteShares’ GraniteShares 2x Long AMD Daily ETF, AMDL, surged 302.7% year to date through Tuesday’s close before dropping 15.19% in a single session on Wednesday after Advanced Micro Devices reported earnings.
According to the outlet, AMDL seeks 2x the daily price move of AMD and rebalances every day, making it a short-horizon trading vehicle rather than a long-term proxy. The article notes that the daily reset can cut returns for holders during choppy periods.
The piece says AMD beat Q2 estimates, posting $11.5 billion in revenue and 50% year-over-year growth, yet the stock still fell 6.3%. It also highlights AMDL was up 385.8% over the past year heading into the earnings-driven selloff.
Yahoo Finance adds that AMDL declined 3.88% over one month while AMD gained 0.15%, illustrating how leveraged daily ETFs can underperform a buy-and-hold approach in flat or volatile conditions.