Stock Market Today, Nov. 10: Nvidia Stock Plunges 5.5% as CEO Scandal Overshadows Its Upcoming Earnings Report

Nvidia's stock plummeted 5.52% to $168.80 on Tuesday amid a scandal surrounding its CEO, Jensen Huang, and heightened concerns about corporate governance. The controversy has prompted an independent board investigation, creating uncertainty as the company's earnings report is due on November 17. Trading volume reached 420.8 million shares, three times its three-month average, reflecting the severity of the sell-off.

Shares have dropped for two consecutive days as investors weigh the investigation against Nvidia's long-term AI growth potential. The broader market also fell on Tuesday, with the S&P 500 declining 0.38% to 7,521 and the tech-heavy Nasdaq Composite dropping 0.74% to 25,066. Nvidia's rivals, AMD and Broadcom, performed better than their peers.

The company's upcoming earnings report will be crucial in determining whether its business can withstand the recent controversy. Analysts will scrutinize data center revenue, profit margins, and management's guidance for signs that hyperscaler spending on AI infrastructure remains strong. Despite Nvidia's dominant position in AI computing, the controversy surrounding Huang introduces new risks that could impact the company's investment outlook.