AMD stock crumbles after revenue guidance
AMD (NASDAQ: AMD) reported Q4 results yesterday evening and provided Q1 outlook for revenue and gross margins, which apparently failed to live up to analyst's expectations. Shares sank almost 9 percent in early trading today after the company disclosed a lower-than-expected forecast.
In the past year, through yesterday, AMD's stock was up over 150 percent.
Between December 26, 2019, and January 2, 2020, Lemelson Capital Management (LCM), on behalf of its clients, shorted shares of AMD, which now constitutes the firm's largest short position.
LCM, recently reported record 2019 returns for its flagship, Amvona Fund, LP.
Disclosure: Lemelson Capital Management is short shares of AMD on behalf of its investors in The Amvona Fund, LP.
About Lemelson Capital Management
Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. For more information, visit: http://www.lemelsoncapital.com or follow on Twitter @LemelsonCapital.
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