Nvidia stock appears on track to fall yet again on Thursday as macroeconomic concerns sap the risk appetite of traders.
Nvidia Woes: Despite Nvidia’s earnings getting high praise from sell-side analysts, investors have been incessantly selling the stock on fears that the Jensen Huang-led company can’t keep on delivering superlative financial performance. The stock peaked at $140.76 on an intraday basis on June 20, shortly after the stock split took effect and the ex-dividend date. The record closing high is $135.58 reached on June 18.
Nvidia Woes: Despite Nvidia’s earnings getting high praise from sell-side analysts, investors have been incessantly selling the stock on fears that the Jensen Huang-led company can’t keep on delivering superlative financial performance. The stock peaked at $140.76 on an intraday basis on June 20, shortly after the stock split took effect and the ex-dividend date. The record closing high is $135.58 reached on June 18.
Category
🗞
NewsTranscript
00:00Let's just start with nvidia real quick because that's the you know biggest stock in the market
00:04So it's got to be some of the biggest news in the market the other day
00:07we covered of course the 10 percent decline and then a sub peanut from the
00:12Doj now nvidia is coming out and saying there was no sub peanut from the doj
00:16So that was bloomberg that reported that not sure
00:19What happened there?
00:21um, but surprisingly
00:24Not a rally after the company comes out and denies that claim
00:30No, and we saw the same thing happen with smci because smci came out talked about, you know
00:37Obviously not filing on time and the short seller report
00:42And they basically, you know said that they were you know
00:45They were just checking internal controls and they didn't anticipate doing any changes to numbers
00:49So you would think you know that would have a significant rally as well because it sold off a hundred points
00:55You know when they didn't file
00:58So on time so
01:02No rally like it rallied like 10 bucks and then gave it all back it's back down at the lows nvidia same story
01:08Where they come out?
01:10Last night breaks that no
01:13You know, we haven't been subpoenaed by the doj
01:16What are you talking about? You'd think the stock would get a lot of its losses back because that's why it sold off
01:20No stock is red
01:23So this is why I say feeling heavy the leaders are not leading when they in fact they are leading
01:29They're now leading on the downside
01:32And that's the issue that I have here
01:35Microsoft we talked about this a lot yesterday. You know, we tried to rally multiple times. Microsoft tried to rally multiple times yesterday
01:42Now starting to roll over and trying to get down to the lows of yesterday 406 is where it's trading this morning
01:47It just feels like the tech leaders
01:50Are now turning into the tech laggers and that's an issue for the market
01:55Uh, I would say
01:58Maybe they left out yet
02:00You know and like we haven't received a subpoena yet
02:05You know like that's an important word
02:08I don't know a lot. We say a lot of things about you know stocks, you know
02:12Not going down on bad news. They're not going up on good news. I mean
02:18This is just an absolutely
02:20Horrible reaction if I was lying to stock saying oh, that's a bunch of baloney that there's no doj investigation
02:28I'm buying the daylights out of this because they're going to come out and deny it. There's nothing going on
02:33The stock should be up five six seven bucks. It's down 51 cents. So I don't get it very
02:40Disappointing if you're an nvidia shareholder
02:43With the action yesterday's low 104 12, that's the line in the sand. I think there was another daily
02:49Yeah, there was another daily low right at 103 50
02:53There's your major level, but there's only one low at that level
02:56So I don't know puzzling news. You said smci the same thing. It's just people are trapped
03:02They're trapped in the stock. There's so many people trapped from earnings
03:06I think I don't want to call anybody out in the chat, but someone said yeah
03:09I caught holding the bag from earnings, but i'm just holding on and I think that's the mentality that you have smci
03:16NVIDIA microsoft, I mean a lot of these yeah, it will come back the market always comes back. I'll break even on the trade