AMD's Big Debt Move
Advanced Micro Devices Plans $4.75 Billion Debt Offering as ETF Short Interest Fluctuates
Key Points
AMD's debt offering will be issued across four maturities from 2029 to 2036, with interest rates spanning 4.6% to 5.5%, and is expected to net about $4.7 billion. The deal is being managed by Barclays, Bank of America Securities, Citigroup, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities.
The Leverage Shares 2x Long ADBE Daily ETF (ADBG) saw July short interest surge to 2,192,506 shares, up 73.3% from mid-July, with roughly 22.3% of the float sold short; the stock opened at about $4.72 and shows a 52-week range of $2.60-$12.13, a 50-day MA of $3.70 and a 200-day MA of $4.59.
Flow Traders U.S. LLC established a new position in Tradr 2X Long APP Daily ETF (APPX), acquiring 13,962 shares valued at approximately $2.062 million, representing about a 0.37% stake in APPX.
APPX is designed to deliver 200% of the daily performance of AppLovin Corp (APP) using total return swaps (and, if swaps are unavailable, FLEX options); it targets short-term tactical exposure and is not suitable for long-term holding due to the effects of compounding.
Leverage Shares' AMD Daily ETF (AMDG) saw July short interest rise to 46,230 shares, a 61.3% increase from July 15; about 14.9% of AMDG's float is short, with a days-to-cover of roughly 0.6, and the ETF opened around $99.88.
Advanced Micro Devices is raising $4.75 billion through a new debt offering, the company announced, with the deal expected to net roughly $4.7 billion after fees, according to GuruFocus. AMD will issue senior notes across four maturities — from 2029 to 2036 — at interest rates ranging from 4.6% to 5.5%.
The offering is being led by a who's-who of Wall Street banks: Barclays, Bank of America Securities, Citigroup, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities. AMD says the money will go toward general corporate purposes, which could include paying down existing debt.
AMD Debt Deal Draws Overvaluation Warning From Analysts
The announcement sent AMD shares up about 1% in premarket trading. But not everyone is cheering. GuruFocus flagged that AMD looks 88.8% overvalued based on its GF Value model — a metric that estimates a stock's fair price. The site gives AMD a GF Score of 81 out of 100, which signals average future performance.
Insider activity adds to the cautious picture. Over the past three months, AMD insiders recorded zero stock purchases. They did sell roughly $78.1 million worth of shares. That kind of one-sided insider behavior often catches the attention of value-focused investors watching the stock closely.
Short Interest Spikes in AMD's 2x Leveraged ETF
Traders betting against AMD are also active in the leveraged ETF space. The Leverage Shares 2x Long AMD Daily ETF (AMDG) saw short interest jump 61.3% in July, reaching 46,230 shares as of July 31, according to Watchlist News. About 14.9% of AMDG's available shares are now sold short.
The ETF opened around $99.88 and carries a days-to-cover ratio of roughly 0.6. That means it would take less than a day for short sellers to buy back their positions at current trading volume — a sign the short interest, while growing, is not yet a major squeeze risk.
Adobe's 2x ETF Sees Even Sharper Short-Interest Surge
The Leverage Shares 2x Long ADBE Daily ETF (ADBG) had an even bigger jump. Short interest surged 73.3% from mid-July, hitting 2,192,506 shares by July 31, per Watchlist News. That puts roughly 22.3% of the float sold short — a notably high figure for any ETF.
ADBG opened near $4.72 and has swung widely over the past year, with a 52-week range of $2.60 to $12.13. Its 50-day moving average sits at $3.70, while the 200-day moving average is $4.59 — meaning the ETF is currently trading above both key benchmarks.
Flow Traders Takes New Stake in AppLovin Leveraged ETF
Flow Traders U.S. LLC quietly opened a new position in the Tradr 2X Long APP Daily ETF (APPX), buying 13,962 shares worth about $2.062 million. That gives the firm roughly a 0.37% stake in the fund, according to Watchlist News. Meanwhile, APPX saw its July short interest fall sharply — down 42.4%.
APPX is built to deliver 200% of the daily return of AppLovin Corp (APP) using total return swaps. If swaps are unavailable, the fund can use FLEX options instead. Like all leveraged ETFs, it is designed for short-term tactical use only. Holding it long-term can produce unexpected results due to the compounding effect.
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