not vested
Advanced Micro Devices (AMD)
There are likely two factors contributing to the rise in Advanced Micro Devices short interest.
Under the leadership of CEO Lisa Su, AMD has become a true competitor in the semiconductor market, gaining market share from both Nvidia Corp. ( NVDA) and Intel Corp ( INTC) in recent years.
But as successful as AMD's business has been, short sellers are likely a bit skeptical of the stock's valuation after it has soared more than 3,000% in the past five years. AMD shares now trade more than 47 times forward earnings.
In addition to its steep valuation, short sellers may be betting that a market-wide rotation out of high-growth tech stocks and into value stocks, that began in November will continue in the coming months.
Whatever the reason, short sellers added $2.12 billion to their bets against AMD in the past 30 days, according to Dusaniwsky. AMD now has $5.07 billion in total short interest.
Source: US News