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Shorts Are Circling the Advanced Micro Devices, Inc. (AMD) Wagon

Despite record short interest, the 'longs' cling to the notion of a much higher AMD stock price

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Don’t look now, but Advanced Micro Devices, Inc (NASDAQ:AMD) just got a major shot across the bow by short investors that should have those in the bull camp questioning how long they hang on to their AMD stock.

“Short Interest in shares of Advanced Micro Devices, a semiconductor manufacturer, reached an all-time high this week,” Brett Weiss, director at S3 Partners, a financial analytics firm said. “S3 Partners real-time short interest analytics calculates that the real time dollars at risk, on the short side, is $2.02 billion. This is an increase of 83% in shares and 105% of dollars at risk, just since the beginning of 2017.”

Interestingly, despite the record short interest in AMD stock, just 18% of the company’s float is being shorted compared to 37% for Avis Budget Group Inc (NASDAQ:CAR), a business you would think is far more resistant to short attacks.

Alas, we’re talking about two entirely different situations that aren’t comparable. Two that are comparable are Nvidia Corporation (NASDAQ:NVDA) and Intel Corporation (NASDAQ:INTC), which, as of Sept. 26, have 3.1% and 2.5% of their float short, respectively.   

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