Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Advanced Micro Devices (NYSE: AMD ) advanced by as much as 12% today on hopes that its largest investor would help support the company if it needs to.
So what: Williams Financial Group analyst Cody Acree said that there is a good chance that Mubadala Development Co. would help provide financial support to the struggling chipmaker if AMD ran short on cash. Mubadala currently has an approximately 19% stake (including warrants) in the company, and it added another board seat in November.
Now what: Acree alluded to Mubadala as a "lender of last resort," implying that the investor would have little choice but to bail out AMD if it came down to it. AMD also said last week that it was planning on selling its facilities in Austin, Texas, to improve its cash position. Shares have been under heavy pressure in recent weeks, so a little bit of bullishness goes a long way toward sparking a rebound rally.
Interested in more info on Advanced Micro Devices? Add it to your watchlist by clicking here.