AMZZ Stock Summary and Trading Ideas (Graniteshares 2X Long Amzn Daily ETF | NASDAQ:AMZZ)

The Granite Shares 2x Long AMZN Daily ETF is an exchange-traded fund incorporated in the USA. The GraniteShares 2x Long AMZN Daily ETF (the "Fund") seeks daily investment results of 2 times (200%) the daily percentage change of the common stock of Amazon.com, Inc. (NASDAQ AMZN) (the "Underlying Stock"). Because the Fund seeks daily leveraged investment results it is very different from most other exchange-traded funds. It is also riskier than alternatives that do not use leverage. The return for investors that invest for periods longer or shorter than a trading day should not be expected to be 200% the performance of the Underlying Stock for the period. The return of the Fund for a period longer than a trading day will be the result of each trading day's compounded return over the period, which will very likely differ from 200% the return of the Underlying Stock for that period. Longer holding periods, higher volatility of the Underlying Stock and leverage increase the impact of compounding on an investor's returns.

Graniteshares 2X Long Amzn Daily ETF trades on the NASDAQ stock market under the symbol AMZZ.

As of October 31, 2024, AMZZ stock price declined to $25.88 with 87,947 million shares trading.

AMZZ has a beta of 2.96, meaning it tends to be more sensitive to market movements. AMZZ has a correlation of 0.55 to the broad based SPY ETF.

AMZZ has a market cap of $23.81 million. This is considered a Sub-Micro Cap stock.

AMZZ support price is $26.78 and resistance is $28.36 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AMZZ shares will trade within this expected range on the day.