Nvidia Stock Volatility Increases, Twice as Volatile as Bitcoin
The artificial intelligence boom has made Nvidia one of the hottest stocks in the U.S., with volatility exceeding even the largest cryptocurrency, Bitcoin. Since 10 July, Nvidia shares have fallen 23%.
Despite the pullback this month, Nvidia is still up about 109% this year, making it the best performer among the SP 500. However, over the past two weeks, investor confidence in large tech stocks such as Nvidia has waned in favour of lower-valued small-cap stocks.
Technical analysts note that Nvidia shares are approaching their 100-day moving average of $103.81, which could signal a further downtrend. It closed below that average at $103.73 on Tuesday.
Analyst Sohn said the share price correction for Nvidia and its peers was necessary to help reset market expectations and attitudes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Colgate-Palmolive (CL.US) plans to sell part of its personal care brands, with a total transaction amount possibly exceeding 1.1 billions USD.
According to sources familiar with the matter, Colgate is exploring the sale of some of its mass-market personal care brands. The company currently plans to divest only a few brands within its personal care business, and the combined sale price may exceed 1 billion dollars.
EdiliziAcrobatica announces shareholder meeting notice
Storage Giant Offers Huge Bonuses Again: Micron Awards Up to 68 Months’ Bonus
Micron Technology has announced record-breaking bonuses for its employees in Taiwan, ranging from 35 to 68 months’ salary, with a minimum cash compensation of 1.7 million New Taiwan dollars. However, the Taoyuan union, representing about two-thirds of Micron’s workers in Taiwan, has refused to accept the offer, insisting that 15% of operating profits be included in the bonus distribution and maintaining the threat of a strike.
Crypto prices
More
