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AMD's value skyrockets after spin-off announcement
AMD's announcement yesterday about spinning off their manufacturing put a whole new perspective on the company, or so investors thought.
After it was revealed that the manufacturing business was bringing in a substantial loss for AMD in trying to compete with Intel, selling part of that unit has sent a clear message to investors. Shortly after the announcement, the company's value skyrocketed, increasing almost 19% in value in just a few hours. Later on the stock would take a step back to close at a more conservative 8.5% gain.
This is coming at a time when most tech companies have seen fairly significant losses in recent days and weeks. Even with the added confidence, AMD has a long road ahead of them.
User Comments (1)
Post a comment| Loquacious1 on October 9, 2008 9:33 PM | Proof that nothing about the stock market is making much sense lately. Their stock skyrockets, then drops again by half before closing? Strange indeed. What are all these stockholders thinking? Sounds like artificial economy based panic.
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