AMD's Stock Soars On High Volume After Analyst Swings From Bearish To Bullish

By Tomi Kilgore Markets MarketWatch Pulse

Advanced Micro Devices Inc.'s stock shot up 6.7% to a 6 1/2-year high in active morning trade Thursday, after reports that Bank of America swung to bullish from bearish. Volume already topped 30 million shares, more than half the full-day average and enough to make the stock the third-most actively traded on major U.S. exchanges. The chip maker was upgraded to buy from underperform at BofA, the WSJ reported. The stock has run up 46% in the month since the election, compared with a 7.9% gain in the PHLX Semiconductor Index and a 4.7% rise in the S&P 500 . Over the past year, AMD shares have rocketed more than four-fold.

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