GFS Stock Looks Ready to Run Higher

Though GlobalFoundries Inc (NASDAQ:GFS) stock was removed from the Nasdaq-100 Index (NDX) in December, it is up nearly 20% so far in 2026, outperforming the broader market. The shares are also trading above the $38, which is half its all-time high since its initial public offering (IPO) back in 2021.
 
The equity recently staged a pullback to its pre-earnings February lows and rising 80-day moving average, which is close to an area of former resistance from July and the latest fourth quarter. Plus, the stock’s 14-Day Relative Strength Index (RSI) sits at 33, an area that marked troughs in November and December.

 

 
There’s plenty of pessimism surrounding GFS, with 13 of the 21 in coverage sporting a “hold” or worse reading, which leaves the room wide open for upgrades. It would also take shorts over two days to cover, even as short interest rolls over from a recent high that hasn’t been seen since the stock’s market debut.
 
Our recommended July call has a leverage ratio of 3.9 and will double on a 28.1 % rise in the underlying equity.