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AMD Stock, Twitter Stock, Blue Apron Stock - Short Interest Update

Advanced Micro Devices Inc (NASDAQ:AMD) Stock Set To Gain From Short Covering.


Shares of Sunnyvale, California-based Advanced Micro Devices Inc (NASDAQ:AMD) are all set to gain following an earnings release that has The Street impressed, on the lines of what we predicted. AMD delivered strong results which beat analyst estimates, both in terms of top and bottom line numbers. AMD registered positive operating profits and guided for third quarter revenue growth of 15% over last years comparable quarter, both of which were clear positives. With its financials yet to reflect the performance of its EPYC server chips and full quarter numbers for products like its Vega GPUs and Ryzen notebook chips, things only look like they could get better from here.

Meanwhile, short interest in AMD stock continued to inch higher, rising by 3.5% to touch nearly 18% of the float, representing 150 million shares. Short interest rose during the fortnight ended mid-July, after declining during the preceding fortnight. Given the rise in short interest, the 10%+ pre-market pop, and days to cover at 2, expect to see a huge support for the rally from the short covering. Today's rally is likely to...