Stock Market Today, Nov. 9: Nvidia Stock Plunges 4% on Jensen Huang Investigation as Nasdaq Surges Nearly 3%
Wall Street piled back into semiconductor stocks on Monday, but Nvidia missed the rally as an investigation involving CEO Jensen Huang raised fresh concerns ahead of the chipmaker's highly anticipated earnings report.
On November 9, Nvidia's shares took a dive of 4.27% to $178.67, following an investigation into CEO Jensen Huang tied to a suspected Chinese intelligence operation (according to the source). The board of directors declared an independent probe, even though the company claimed to have no evidence of sensitive data being compromised (prosecutors say). Nvidia's trading volume spiked at roughly 455 million shares, nearly triple its three-month average of 122.5 million (according to the source).
The tech rally that lifted the Nasdaq Composite to 25,253, a gain of 2.74%, was met with a contrasting tumble for Nvidia in the wake of the inquiry (the Nasdaq Composite +2.74%). Advanced Micro Devices (AMD) and Broadcom also enjoyed gains, AMD rising 13.26% to $508.58 after securing a new Google Cloud partnership and an analyst upgrade (AMD +13.26%), and Broadcom surging 8.78% to $319.48 as investors rediscovered AI-focused stocks (AVGO +8.78%).
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
