Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by $1.17 (9 percent) at $11.58 in Wednesday's session.
The stock added $1.35 ($11.42 to $12.75) on Tuesday, when the Street anticipated a licensing deal with Intel (NASDAQ:INTC). Since no confirmation has materialized, the stock has attracted a load of sellers.
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See Also: AMD Downgraded, Analyst Thinks Intel Deal Is 'Unlikely'
After a lower open, AMD attempted to rally but found sellers well ahead of Tuesday's close ($12.75) at $12.29 and continued its move lower. At this time, the ensuing decline has found intraday support just ahead of Monday's close ($11.42) as $11.44 stands as the current low for the session.
If that level is breached, it may find additional support at Monday's low of $11.30.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.