Posted by MTV News on Tuesday, January 29, 2019 07:25:38AMD stock price downgraded to its lowest price level in three weeks, while its rival Nvidia has also been downgraded as its share price is now below the $50 mark.
The news comes as AMD’s shares have tumbled more than 40% in the past 12 months and it was downgraded by analysts to ‘buy’ on Tuesday.
The stock has tumbled by more than 25% since it began trading on January 1st, as the company’s financial results have been hit by the fallout from the Deepwater Horizon oil spill and the impact of the government’s decision to allow oil exploration in the Gulf of Mexico.
In the last three weeks AMD has fallen from $22.20 to $17.90.
The company is now down by more that 20% in its last three trading days, according to FactSet.
The reason for the recent slide in AMD stock price has been the company has not been able to keep pace with Nvidia’s share price.
The company has lost around 10% of its value over the past three weeks and has fallen by a whopping 40% from its January 2017 high of $38.60.
The downgrading of AMD comes as the Nvidia shares have gained nearly 60% in value over that period.
The Nvidia shares are now up more than 80% from their January 2017 low of $32.90 to $33.80.
While Nvidia has had a rocky start to the year, it is still up over 80% in 2017 from its lowest point of $14.90 in the last trading day of January.
Nvidia’s shares rose by about 11% on Tuesday and have now been up more, more than 100%, in a span of just two trading days.