5 Biggest Losers on Thursday

1. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 87

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) fell over seven percent this morning. Like NVIDIA Corporation (NASDAQ:NVDA), the U.S. government also told AMD to stop selling its high-performance AI chips to China.

Advanced Micro Devices, Inc. (NASDAQ:AMD) said the updated license requirements do not allow the company to export its MI250 chips to the world’s second-biggest economy. On the positive side, the semiconductor giant said it doesn’t see any material impact on its business following the latest development.

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) have struggled to gain value so far in 2022. The stock is still down about 47 percent on a year-to-date basis, including today’s drop.

You can also take a peek at 10 Crypto Companies Hit By the Recent Crash and 10 Best Cyclical Stocks for Inflation.

Follow Insider Monkey on Twitter