AMD Trading Higher As Takeover Rumors Resurface

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Shares of Advanced Micro Devices (AMD) are rising in early trading after traders circulated chatter once again that the company could be a target to be acquired.

At a minimum, volatility in the stock has been attributed to takeover chatter on two other occasions in the last six months, with The Fly having indicated that takeover rumors were swirling on March 7, 2018, and November 17, 2017, as well. Cryptocurrency revenues have been pointed to as reasons to be bullish on AMD and Nvidia (NVDA) and bitcoin rose roughly 4.7% this week to $9,682 in U.S. dollars, according to CoinDesk.

In morning trading, AMD shares are up 2.7%, or 30c, to $11.22.
 

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at TheFly.com.

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